Bayer backs Chinese biotech with novel heart disease pipeline
A major equity investment will see Germany’s Bayer (BAYN: DE) and New York-based life science investor RTW Investments take a stake in a Chinese biotech working on heart and eye conditions.
Shanghai-headquartered JiXing Pharmaceuticals was founded in 2019 with the goal of developing novel treatments for underserved Chinese patients with serious and life-threatening diseases.
With this series D financing, long-term backer RTW has added $127 million to its support for the firm, while Bayer has contributed $35 million.
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