AstraZeneca Plans $1 Billion Fund for China Biopharma Startups

AstraZeneca announced plans to raise up to $1 billion to fund China life science startups. The company will partner with China International Capital Corporation (CICC) to raise the capital, with reports that Sequoia China may also join. The fund plans to raise between $200 million and $300 million this year, and up to the full $1 billion over four years. AstraZeneca is already building a new China research center and an artificial intelligence lab, both in Shanghai, which it will expand to include the new biopharmas. The company will share its expertise with the startups and may choose to invest further in them. More details.... Stock Symbol: (NYSE: AZN) Share this with colleagues: // //