Cheer Fine Pharmaceutical Co., Ltd. announced that it expects to receive $4 million in funding from Daito Pharmaceutical Co.,Ltd., Cheer Fine Enterprises Co., Ltd., Nikoshoji co.ltd
March 07, 2019
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Cheer Fine Pharmaceutical (Anhui) Co., Ltd. announced a private placement of $4,000,000 on March 8, 2019. The company will issue common shares in the transaction through third party allocation. The transaction will include participation from returning investors, Daito Pharmaceutical Co.,Ltd. (TSE:4577), Nikoshoji co.ltd., Cheer Fine Enterprises Co., Ltd. Post the closing of the transaction, the investors would retain their current ownership of 12%, 12%, 76% respectively.
Daito Pharmaceutical Co., Ltd. is a Japan-based company mainly engaged in the pharmaceutical ingredients and formulation business, as well as healthy food. The pharmaceutical ingredients business is engaged in the manufacture, purchase, sale and entrusted manufacture business of pharmaceutical ingredients used as raw materials for pharmaceutical manufacture and formulation. The formulation business is engaged in the manufacture, purchase, sale and entrusted manufacture business of prescription pharmaceuticals and pharmaceuticals for general-use medicines.
Cheer Fine Pharmaceutical Co., Ltd. announced that it expects to receive $4 million in funding from Daito Pharmaceutical Co.,Ltd., Cheer Fine Enterprises Co., Ltd., Nikoshoji co.ltd
DAITO PHARMACEUTICAL CO.,LTD. 
