Tianjin KingYork and Innovata Announce $190 Million Asthma JV
publication date: Jan 2, 2013
Tianjin KingYork Group Co. and Innovata HK Limited have formed a JV that will be located in Tianjin Economic-Technological Development Area (TEDA). The new company, which will be known as Tianjin Kinnovata Pharma, will produce powder inhalation drugs for asthma and COPD. The JV has been funded with $9.6 million initially. Over the longer term, the partners plan to invest $190 million in the project. The partners were advised by Morrison & Foerster, an international law firm specialized in life sciences, who also revealed that the JV expects to eventually attain revenues of more than 1 billion RMB ($160 million). More details....
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