CARsgen Therapeutics' (HKG:2171) equity interest in subsidiary, UCARsgen Biotech, will decline to 92% from 100% after an investment fund subscribes for its additional registered capital for 80 million yuan, a Wednesday filing with the Hong Kong bourse said.
The investment fund is being managed by Zhuhai Hengqin SB Xinchuang Equity Investment Management, according to the biopharmaceutical company.
Under the contract, UCARsgen Biotech has secured the exclusive rights for the R&D, manufacture, and commercialization of two allogeneic CAR-T products in mainland China.
UCARsgen Biotech is a new drug discovery biotechnology company focused on allogeneic CAR-T cell therapies for the treatment of hematologic malignancies.
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