Quick Take: HeungKong Bets on Good Chemistry With $15 Million Investment in Uni-Bio
(Beijing) — Hong Kong-based biotech firm Uni-Bio has secured a HK$120 million ($15.37 million) investment from conglomerate HeungKong Group Ltd. as the pair announced a partnership to engage in international mergers and acquisitions.
The two companies will focus on “small to midsize biomedicine and biotechnology companies as targets,” Uni-Bio Science Group Ltd. said in a filing to the Hong Kong Stock Exchange on Tuesday.
The deal will also help Uni-Bio market its drugs through HeungKong’s network of clinics.
Since 2011, HeungKong has been operating several health care centers in the southern city of Guangzhou and the northern municipality of Tianjin. The company is also working with hospitals to provide customized medical consultations and health checkups.
The partnership will also expand the distribution of Uni-Bio’s endocrinology products, Uni-Bio said.
Shares of Hong Kong-listed Uni-Bio rose 2.31% on Friday to 18 Hong Kong cents.
Contact reporter Coco Feng (renkefeng@caixin.com)
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