M&A Deal

ORI Capital announces first closing of $400 mln fund after Kymab exit

Hong Kong healthcare fund manager and other shareholders this week announced exit from Kymab in $1.1 billion deal with French drugmaker Sanofi.

Healthcare fund manager ORI Capital has announced the first closing of a healthcare fund with a targeted size of $400 million. The new fund was unveiled just as ORI and its partners entered an agreement to sell their investment in British clinical-stage biopharmaceutical company Kymab in a deal worth up to $1.45 billion with French drugmaker Sanofi.

ORI, together with other exiting shareholders, will receive $1.1 billion in an upfront payment from Sanofi, and an additional amount of up to $350 million on achievement of certain milestones.

ORI Healthcare Fund, or ORI Fund I, and Hong Kong- and Shenzhen-listed Shenzhen Hepalink Pharmaceutical Group had in November...

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