Jacobson Pharma of Hong Kong raised $64 million in a private placement. The company, which supplies 30% of Hong Kong’s generic drugs, intends to use the proceeds for M&A, including in-licensing and direct investment into “technology-oriented biopharma products.” Currently, Jacobson’s business involves traditional Chinese medicines for the Hong Kong market. One year ago, Jacobson completed an $85 million IPO on the Hong Kong exchange, 45% of which was earmarked for strategic acquisitions.
Source: China Biotoday
