Novo Holdings participates in USD 100m financing round of Chinese contractor

Novo Holdings and a syndicate of other investors have injected USD 100m into Chinese contract developer Zhenge Biotech, expanding on Novo Holdings's bet on Asia, which began with the establishment of a new division in Singapore back in 2020.

With the new investment, Novo Holdings continues its efforts within Asia that began back in June 2020 with the establishment of an office in Singapore | Photo: Novo Holdings / PR

The Novo Nordisk Foundation's  holding company Novo Holdings has once again demonstrated its belief in Asia, this time in the form of an investment in Chinese firm Zhenge Biotech, which is a Contract Development and Manufacturing Organization (CDMO).

A syndicate of investors, which was led by investment firms Goldman Sachs Asset Management and Belgian Sofinova and included Novo Holdings, has injected a sum of USD 100m into the Chinese firm, a company press release states.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from MedWatch

Sanofi reduces US insulin prices for the uninsured

While bills to introduce a price cap on insulin are being discussed in the US Senate, Sanofi has beaten them to the punch and reduced the price of insulin products for US diabetes patients without insurance.

Further reading

Related articles

Latest news

See all jobs