HUTCHMED sold a 45% stake in Shanghai Hutchison for $608M to fund new cancer and immunological disease treatments.

HUTCHMED, a biopharmaceutical company, sold a 45% stake in Shanghai Hutchison Pharmaceuticals for $608 million to focus on developing new cancer and immunological disease treatments. The company plans to use the proceeds to advance its antibody-targeted therapy programs, with the first expected to enter clinical trials this year. HUTCHMED will retain a 5% equity interest in SHPL post-divestment.

January 01, 2025
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