General Atlantic to invest $55 mln in Indonesia's Kalbe Farma biotech JV

Genexine

27/01/2021 05:07

SINGAPORE, Jan 27 (Reuters) - Global private equity firm
General Atlantic will invest $55 million in Kalbe Genexine
Biologics (KGBio), a joint venture of Indonesian pharmaceuticals
firm PT Kalbe Farma  KLBF.JK  and South Korean biotech firm
Genexine Inc  095700.KQ .
    The investment will go towards KGBio's ongoing clinical
development and help boost its production capacity, among
others, the companies said in a joint statement on Wednesday. 
    "As a global player in life sciences, General Atlantic
brings an extensive network and deep expertise in innovation
that KGBio aims to leverage," said Sie Djohan, director of Kalbe
Farma and chief exectuive officer of KGBio. 
    Kalbe Farma owns a majority stake in KGBio, founded in 2016.
Kalbe Farma, which operates in  prescription pharmaceuticals,
consumer health, nutrition, and distribution and logistics, has
a market value of $5.2 billion.
    U.S.-based General Atlantic has invested in many life
sciences firms over several decades, focusing on both
revenue-stage and emerging growth pharmaceutical and
biotechnology businesses.

 (Reporting by Anshuman Daga; Editing by Rashmi Aich)
 ((anshuman.daga@tr.com))