Abu Dhabi & Singapore Investors Commit US$300 Million in Chinese Plasma-Based Pharmaceuticals Tech

In signs of the strengthening financial and investment ties between the Middle East and South-East Asia, China’s Taibang Biologic Group, a plasma products maker, raised US$300 million co-led by the Abu Dhabi Investment Authority (ADIA) and Singapore’s GIC Private Limited. Other investors in the round include China Life Private Equity Investment and Cinda Kunpeng (Shenzhen) Investment Management Co., Ltd.

Taibang was previously known as China Biologic Products Holdings. China Biologic Products was previously listed on Nasdaq and was taken private in April 2021 by a consortium led by Beijing-based Centurium Capital. It is one of the only blood plasma-based biopharmaceutical companies in the world.

China Biologic was considering an initial public offering in Hong Kong earlier this year, but has deferred instead to attract private investment from elsewhere in Asia. Those investors will now be looking for a later IPO windfall.

The deal marks a uniting of investment plans between leading Chinese medical tech businesses, and investors in ASEAN and the UAE, a growing trend as the Middle East and South-East Asia begin to pool their investments in favor, of increasing complexities involving the US, and to some extent EU regulatory systems and the extrajudicial conditions they tend to impose. Additionally, the recent heavy-handed sanctions levied by them during 2022 are making the West less reliable as longer-term partners.

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