Navigation Links
Kun Run Biotechnology, Inc. Executes Purchase Agreements for Approximately $8 Million Private Placement
Date:4/22/2010

HAIKOU, China, April 22 /PRNewswire-Asia-FirstCall/ -- Kun Run Biotechnology, Inc. (the "Company" or "Kun Run") (OTC Bulletin Board: KURU), a leading bio-pharmaceutical company in China that focuses on manufacturing and sales of peptides, peptide-based drugs and small molecule drugs, today announced the signing of a private placement agreement totaling approximately US$8 million of preferred stock and warrants with Caduceus Asia Partners, L.P., an investment fund managed by OrbiMed Advisors, LLC, and Mr. Xueyun Cui, the Chairman of the Company's Board of Directors and the majority stockholder of the Company.

"We are extremely pleased to have OrbiMed as Kun Run's first institutional investor, marking an important milestone in our company's progress," stated Mr. Cui. "We believe OrbiMed has a distinguished reputation and strong track record in healthcare fund management with a global network that enables our Company access to opportunities in the overseas pharmaceutical market. We believe that our company's strong foundation in peptides, peptide-based drugs and small molecule drugs, along with OrbiMed's credibility in the healthcare space, will result in continued growth and return for our shareholders."

Dr. Nancy T. Chang, Chairman and Senior Managing Director of OrbiMed's Caduceus Asia Partners Fund, will join the board of Kun Run in connection with this transaction. "We are enthusiastic about the Chinese pharmaceutical market and are excited to see quality companies like Kun Run emerge in this market," said Dr. Chang.

The net proceeds will primarily be used for potential acquisitions of drug products and pipeline assets and working capital needs.

The Company intends to file a Current Report on Form 8-K with the Securities and Exchange Commission today, which will include a more detailed description of the transaction.

About Kun Run Biotechnology Inc

Kun Run Biotechnology, Inc., together with its subsidiaries, engages in manufacture and sale of polypeptide medicines. It uses solid phase peptide synthesis (SPPS) and advanced purifying technology to produce various therapeutic polypeptide drugs, of which is "TP-5" most known for efficiently regulating humans' immune systems in order to defend and cure malignant diseases. The company maintains two state-of-art manufacturing plants and possesses one of the largest peptide synthesizing capacities across Asia.

About OrbiMed Advisors

OrbiMed is the world's largest healthcare-dedicated investment firm, with approximately $5 billion in assets under management. OrbiMed's investment advisory business was founded in 1989 with a vision to invest across the spectrum of healthcare companies: from private start-ups to large multinational companies. OrbiMed manages the Caduceus Private Investments series of venture capital funds and a family of public equity investment funds.

OrbiMed's investment team includes over 30 experienced professionals with backgrounds in science, medicine, industry, finance and law. The firm's diverse team of professionals has a unique understanding of industry dynamics through active participation in both public and private companies. Our professionals work together in a collaborative, team-oriented approach which seamlessly integrates our public and private equity platforms. OrbiMed seeks to be the capital provider of choice for life sciences companies pursuing growth and new opportunities. Where appropriate, particularly within its venture capital funds, OrbiMed supports its portfolio companies in achieving strategic, financial and operational objectives via participation at the Board of Directors level. OrbiMed professionals currently serve on the Board of Directors of dozens of different life sciences companies. For more information, please visit: http://www.orbimed.com/

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of Kun Run Biotechnology, Inc. and its subsidiary companies. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, concentration in a single customer, raw material costs, market acceptance, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. Kun Run Biotechnology, Inc. is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.


'/>"/>
SOURCE Kun Run Biotechnology, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Kun Run Biotechnology, Inc. Announces Third Quarter 2009 Results
2. Champions Biotechnology, Inc. Signs Exclusive Licensing Agreement with Ramot for TAR-1, a Novel Therapeutic for the Treatment of Cancer
3. Obecure Executes Licensing and Clinical Supply Agreement With Farmaceutici-Formenti SPA for Extended Release Formulation of Betahistine
4. Transgenomic, Inc. Executes License Option agreement for Parkinsons Disease Diagnostic Markers with Gene Solutions, LLC
5. DOR BioPharma, Inc. Executes $400,000 Equity Investment Agreement With Numoda Corporation
6. International Merchant Advisors Completes All Stock Based Purchase of Medical Marijuana Company Organic Science, Inc.
7. Arigene Co., Ltd. Announces Termination of Tender Offer To Purchase and Return of Validly Tendered Shares of Common Stock of Trimeris, Inc.
8. LifeSync Purchases Wireless Patent Portfolio from Motorola
9. Warner Chilcott Considers Potential Repurchase or Redemption of 8.75% Senior Subordinated Notes
10. Pro-Dex, Inc. Announces Results of Annual Shareholder Meeting, an Update Regarding Major Customers Product Development Plans, and Receipt of $1.5 Million and $3.0 Million Purchase Orders
11. Despite Limited Capital Equipment Purchases In 2009, The Global Powered Surgical Instrument Market Held Its Value At $800 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/11/2017)... , Aug. 11, 2017 DarioHealth Corp. (NASDAQ: ... health and big data solutions, today announced that it ... August 14 and host a conference call at 9:00am ... operating and financial results and its strategy and outlook ... hosted by Erez Raphael , Chief Executive Officer, ...
(Date:8/7/2017)... Insightin Health, provider of data-driven decision-making ... announced the selection of Michael Wood ... as of February 2017. In this role, Wood will ... our clients. Wood brings with him more than ... analytics within the healthcare industry. Wood formerly served ...
(Date:8/7/2017)... 7, 2017  Endo International plc (NASDAQ: ... resolve virtually all known U.S. mesh product liability claims ... the known remaining U.S. claims at reasonable values. Under ... the fourth quarter of 2017 and continuing through the ... quarter 2017 results, the Company intends to increase its ...
Breaking Medicine Technology:
(Date:8/18/2017)... ... August 18, 2017 , ... The Dawn Johnson Insurance Group, a ... charity drive to generate community support for efforts to educate the local population on ... for all types of cancer. , Each day in America, roughly 4,600 new ...
(Date:8/18/2017)... ... August 18, 2017 , ... MLM Insurance ... serves communities throughout southern Florida, is working to support the Take Stock In ... from low income families. , The Take Stock In Children Foundation (TSC) offers ...
(Date:8/18/2017)... ... 18, 2017 , ... “Emotions are sacred, valid, honored, encouraged. This is the ... company Generation Mindful. To help change the mindset of parents and educators from punitive ... created the Time-In Toolkit, which launched on Kickstarter 3 weeks ago and fully funded ...
(Date:8/18/2017)... ... August 18, 2017 , ... Inc. magazine has ranked ... most prestigious ranking of the nation's fastest-growing private companies. This marks the eighth time ... Inc. 5000 ranking . This year’s ranking reflects ASH’s 76 percent overall revenue growth ...
(Date:8/18/2017)... ... August 18, 2017 , ... “Three Narrow Roads”: a ... the creation of published author, Rev. Dr. Burnett King Sr., is currently the pastor-teacher-visionary ... founder of the Faith Track Club, Inc., a track-and-field program geared towards youth. , ...
Breaking Medicine News(10 mins):