Tasly Biopharma of Shanghai raised $84.5 million in new capital from a group of investors that included Ally Bridge. The funding is a pre-IPO round as Tasly is planning to list on the Hong Kong Exchange. The investors received a 4.5% stake in Tasly Biopharma, implying a $1.9 billion pre-IPO valuation. Tasly Biopharma is a subsidiary of Tasly Pharma. As a separate part of the transaction, Transgene transferred its half of a China drug JV to Tasly in exchange for $48 million of stock at the same valuation.
Source: China Biotoday
