Ruibo Pharmaceutical Technology Co., Ltd. announced that it expects to receive CNY 32 million in funding from Zhejiang Jiuzhou Pharmaceutical Co., Ltd
February 08, 2021
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Ruibo (Hangzhou) Pharmaceutical Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 32,000,000 on February 9, 2021. The transaction will include participation from returning investor Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456). Upon completion, the registered capital of the company will increase from CNY 80,000,000 to CNY 84,671,532.85 and the investor will continue to hold 100% stake in the company. The transaction has been approved in the 4th meeting of the investor's 7th directorate and the 2nd meeting of the 4th supervisory board, and does not need shareholders approval.
Zhejiang Jiuzhou Pharmaceutical Co.,Ltd. is a China-based company principally engaged in the research, development, production and sales of chemical Active Pharmaceutical Ingredients (API) and intermediates. The Company mainly operates through two segments, including the New Drug and Intermediates Contract Development and Manufacturing Organization (CDMO) segment and the Specialty APIs and Intermediates segment. The New Drug and Intermediates CDMO segment mainly provides services for innovative medicines of pre-clinical chemical manufacturing and controls (CMC), clinical phases I, II and III, new drug application (NDA) and various stages after going public. The Specialty API and Intermediates segments mainly provides services including patent breakthroughs, production process improvement, drug certificate declaration, and cGMP standard commercial production for patented expired or soon-to-be-expired drugs for global chemical and generic drug manufacturers.
ZHEJIANG JIUZHOU PHARMACEUTICAL CO., LTD 
