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Business
Chinese Firms Win Venture Funding
by Jean-François Tremblay
December 21, 2015
| A version of this story appeared in
Volume 93, Issue 49
The Chinese contract research firm Pharmaron and the biobased chemicals maker Cathay Industrial Biotech have both raised money from Chinese investors. Citic M&A Fund and Legend Capital will provide $280 million to Pharmaron so it can expand its labs to meet growing demand for R&D services from Chinese drug discovery firms. Separately, Cathay drew $135 million from Shanxi Lu’an Mining. Cathay will use the funds to expand its facilities for long-chain dibasic acids, 1,5-pentanediamine, and polyamides, mostly made with renewable materials as feedstocks.
The power is now in your (nitrile gloved) hands
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