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Takeda sells stake in China biopharmaceutical company to JV partners

Takeda Pharmaceutical Co. Ltd. agreed to sell its majority stake of 51.34% in Guangdong Techpool Bio-pharma Co. Ltd. to its joint venture partners.

The Osaka, Japan-based pharmaceutical company will sell the shareholding to Shanghai Pharmaceuticals Holding Co. Ltd., which owns 41% of Techpool, and a fund managed by SFund International Investment Fund Management Ltd., in an all-cash, combined stock purchase deal.

SFund is a wholly owned unit of Guangzhou Industrial Investment Fund Management Co., Ltd.

The base payment for Takeda's stake under the agreement is $280 million.

Upon completion of the deal, Shanghai Pharma will acquire about 51% of Takeda's stake in Techpool, which raises its shareholding to about 67%. The fund will have an indirect ownership of about 25% of Techpool, and the remaining 8% will remain with another wholly owned subsidiary of Guangzhou Industrial Investment.

The deal is subject to the approval of the State Administration for Market Regulation in China.

Techpool develops and sells therapies, such as Roan for treating pancreatitis and Kallikrein for thrombotic cerebral infarction.