Chinese dealmaking: SARI nabs Italy’s NMS Group for $362M; Inovio retools deal with ApolloBio
Two biopharma deals involving Chinese companies were announced during the holidays, marking the beginning of what we expect will be a booming year for dealmaking in China.
SARI nabs cancer drugmaker in Italy for $362M
First, there was SARI, a Chinese biotech investment company that just snatched 90% interests in an Italian oncology company called NMS Group in a deal worth €300 million ($362 million). The deal was part equity injection and part debt restructuring, and is expected to close sometime in Q1.
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