BRIEF—$100 million investment in Chi-Med

Chi-Med has received an investment of $100 million via a private placement of shares, at $25 per share, a 10% premium.

Investor General Atlantic has also taken an option to buy a further $100 million worth of shares at $30 each.

The oncology specialist has three Fast Track designations from the US regulator, for fruquintinib and surufatinib.

The money will be used to fund ongoing research and clinical development, and support the further growth of commercialization capabilities in China and globally.

Chief executive Christian Hogg said: “Over the last few months, we have made significant development, regulatory and commercial progress in several oncology programs intended for the global market.”