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BUSINESS & TECH

Chinese Biopharma Developer Moves to U.S.

KBP BioSciences Co. Ltd. has chosen the Philadelphia area as the site of its new headquarters, according to a company statement. Photo: Visual China
KBP BioSciences Co. Ltd. has chosen the Philadelphia area as the site of its new headquarters, according to a company statement. Photo: Visual China

A Chinese biopharma developer has decided to move its global headquarters to the U.S. in a bid to take advantage of the country’s extensive talent pool and enormous pharmaceutical market.

KBP BioSciences Co. Ltd. has chosen the Philadelphia area as the site of its new headquarters, according to a company statement.

The clinical-stage biotechnology company has attracted some big names in its latest $76 million fundraising round, including the venture capital firm under the government-backed State Development & Investment Corp. and a venture fund under Ping An Insurance.

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