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Business

Chiral Quest Raises Money, Buys A Plant

by Michael McCoy
August 12, 2013 | A version of this story appeared in Volume 91, Issue 32
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Chiral Quest has completed a round of financing in which it raised $23 million from four existing investors and three new ones. The pharmaceutical chemical maker says it is using the money to acquire Jiang Xi Long Life Biopharmaceutical and improve Long Life’s plant in China’s Jiangxi province so it can manufacture active pharmaceutical ingredients. Chiral Quest was founded in 2000 to commercialize chiral catalysts invented by Pennsylvania State University chemistry professor Xumu Zhang. The firm later moved to China.

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