2022-08-02

Taibang Biologic Group Secures Equity Raising of US$300 Million

Taibang Biologic Group (previously listed as China Biologic Products Holdings, Inc. on the Nasdaq under the trading symbol “CBPO”) (the “Group”) entered into definitive transaction documents for equity raising of US$300 million with a group of investors led by Platinum Orchid, a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and GIC. China Life and Cinda Kunpeng are participating in this financing round as co-investors. This is Taibang Biologic Group’s first equity financing transaction since the completion of its privatization in April 2021 by a consortium led by Centurium Capital. The Group has received strong interests from top-tier international and domestic investors, which reflects the capital markets’ high recognition of the Group's ability to deliver clinical benefits to patients and create value for shareholders. This round of financing will further optimize the Group’s capital structure, which will help solidify its leading position in the domestic market and attract more stable and extensive resources to support the expansion of plasma stations and the research and development of new products, thereby allowing the Group to achieve more rapid and sustainable growth in the China market. Founded in 2002, the Group is a leading Chinese biopharmaceutical company that provides a comprehensive range...

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