Hasten Biopharmaceutic raises US$315 million in funding round led by CBC and Abu Dhabi sovereign wealth fund

HASTEN Biopharmaceutic has raised US$$315 million in a funding round co-led by CBC Group and Abu Dhabi sovereign wealth fund, Mubadala Investment.

There were other undisclosed institutional investors in the round as well.

The pharma company produces five “originator” drugs, or those first authorised for global marketing. The five, used to treat heart and metabolic disorders, were acquired from Japanese pharma company Takeda in March 2022.

Fu Wei, chief executive officer of CBC, said: “The firm reported 47 per cent growth in sales from Q2 to Q4 in 2022, which is testament to CBC’s unique and effective investor-operator strategy. We are confident that the attractive entry valuation, coupled with strong operational and growth momentum, will create long-term sustainable value for CBC and our fellow shareholders.”

CBC is Asia’s largest healthcare-dedicated investment firm headquartered in Singapore; Mubadala’s US$284 billion portfolio spans six continents with interests in multiple sectors and asset classes. 

The funds will be used for future acquisitions and to develop a pipeline of assets.

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Summer Xia, chief executive officer at Hasten, said: “Through organic growth and future acquisitions, we aim to continue creating significant commercial synergies with our existing portfolios, and to bring more valuable healthcare solutions to the majority of patients, as well as create a health management ecosystem in China.”