Skip to content Skip to Search
Skip navigation

Mubadala co-leads $315m fundraising for Chinese firm

Computer, Computer Hardware, Computer Keyboard Hasten
The proceeds will be used to fund future acquisitions and business development of pipeline assets of Hasten

Singapore-based healthcare investment firm CBC Group and Abu Dhabi sovereign fund Mubadala Investment Company have completed a $315 million fundraising round for Hasten Biopharmaceutic Company.

The proceeds will fund future acquisitions and business development of pipeline assets, CBC said in a statement.

Mohamed Albadr, head of Mubadala’s China office, said they will build a biopharma platform that provides high-quality and accessible healthcare products to critical care patients in China.

Summer Xia, CEO of Hasten, said that the proceeds raised will catalyse the firm’s growth and expansion plans to become China’s top healthcare company in chronic and age-related acute and severe diseases.

This latest fundraising round follows Hasten’s acquisition of the Chinese mainland rights for five cardiovascular and metabolism drugs from Takeda Pharmaceutical Company Limited in March 2022. 

Headquartered in Singapore, CBC Group has assets under management of over $7 billion. 

Earlier this week M42, a joint venture between G42 Healthcare and Mubadala Health, made its first investment by acquiring Diaverum, a global renal care service provider.

Latest articles

A Brazilian delegation in front of an Embraer C-390 aircraft at the Singapore Airshow in February

Brazil’s Embraer woos Saudi Arabia for military plane deal

Saudi Arabia is in “early engagement” with Brazilian planemaker Embraer over a deal to replace its ageing fleet of military transport aircraft. Embraer is touting its C-390 Millennium transport plane as the ideal replacement for the kingdom’s Lockheed Martin C-130 Hercules aircraft. Embraer Defense & Security’s CEO João Bosco da Costa Junior told reporters: “They […]

Residents use kayaks to evacuate their flooded residential complex in Dubai following the April storm

Floods prompt Abu Dhabi to issue urban planning tender

Abu Dhabi’s Department of Municipalities and Transport has issued a tender for studies to aid the city’s urban planning efforts, including infrastructure resilience during storms. The tender for consultancy services opened last month and closes on July 4. It emerges after UAE president Sheikh Mohamed bin Zayed Al Nahyan ordered an urgent review of the […]

Qatar Kazakh mobile network

Qatar company buys Kazakh mobile network for $1bn

Qatar Power International Holding has bought Kazakhstan’s largest mobile phone network. The Qatari company, a private conglomerate based in Lusail, has bought Kazakhtelecom subsidiary Mobile Telecom-Service LLP, Reuters reported, citing a statement from the Kazakh government on Tuesday. Mobile Telecom-Service LLP is a joint venture between Swedish telco Tele2 and Kazakh high speed mobile internet […]

Saudi imports GCC

UAE dominates Saudi imports

Saudi Arabia’s imports from its neighbouring five GCC countries rose 5 percent to SAR21 billion ($5.6 billion) in the first quarter of 2024. Oman led the growth, but goods trade with Qatar suffered a steep decline, according to figures from Saudi platform Argaam, citing the Saudi General Authority for Statistics (GASTAT). Goods shipped from the […]