Zhejiang Haitai Pharmaceutical Technology Co., Ltd. announced that it expects to receive CNY 102.2866 million in funding from Zhejiang Jiuzhou Pharmaceutical Co., Ltd
August 19, 2018
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Zhejiang Haitai Pharmaceutical Technology Co., Ltd. announced that it will receive CNY 102,286,600 in a round of funding from returning investor Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) on August 20, 2018. The transaction will be completed in two tranches. The first tranche will be received for CNY 30,000,000, of which CNY 18,450,000 will be used to pay the unpaid portion of the original subscribed registered capital and the remaining CNY 11,150,000 will be the new registered capital. The company will receive CNY 48,450,000 as new registered capital and CNY 23,836,600 for capital reserve in the second tranche which will be completed before June 30, 2019. Post closing, the registered capital of the company will increase to CNY 80,000,000. The transaction has been approved in the 10th meeting of the 6th Board of Directors and the 6th meeting of the 6th Board of Supervisors.
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 Haitai Pharmaceutical Technology Co., Ltd. announced that it expects to receive CNY 102.2866 million in funding from Zhejiang Jiuzhou Pharmaceutical Co., Ltd