HSINCHU, Taiwan and WUHAN, China, June 13, 2018 /PRNewswire/ — JHL Biotech has raised US$106 million in a convertible bond issuance, which closed May 15, 2018. Proceeds raised from the issuance will be used for clinical trials, working capital needs and further development of the company’s pipeline of biosimilar treatments. The offering brings JHL’s total funding raised to date to US$320 million. VMS Investment Group was the largest subscriber for the issuance, which also included active participation from existing shareholders. Ion Pacific acted as sole financial advisor to JHL for the financing transaction.
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About JHL Biotech
JHL Biotech, Inc. is a biopharmaceutical startup founded by a group of industry veterans with deep experience in pharmaceutical development and operations. JHL is backed by premier financial firms, including Kleiner Perkins Caufield & Byers, Sequoia Capital, Biomark Capital, Milestone Capital, Fidelity, VMS Investment Group, and the China Development Industrial Bank. JHL Biotech’s mission is to provide the world with low-cost medicines of exceptional quality. JHL is focused on continuing to provide the highest-quality CDMO services for our esteemed clients and also research and development of new protein-based therapies and biosimilars. JHL has two world-class facilities built in accordance with United States, European Union, and ICH cGMP regulations and standards and can produce biological products to be marketed globally. For more information, please visit www.jhlbiotech.com.