China Resources Holdings invested $4.6 million in Converd Company, a Hangzhou company developing oncolytic virus products. As part of the investment, Converd will occupy space in China Resource’s Life Science Park, an incubator. Converd’s President is Fang Hu, who was CEO and president at Shanghai Sunway when it became China’s first biopharma with an approved oncolytic virus product in 2005. China Resources Pharma, a listed subsidiary of state-owned CR Holdings, completed a $1.8 billion IPO in Hong Kong last year.
Source: China Biotoday
