The Sinopharm-backed laboratory animal model developer floated on Shanghai Stock Exchange’s Star Market two years after its last equity funding.

GemPharmatech, a China-based laboratory animal technology developer backed by pharmaceutical firm Sinopharm Group, listed on the Shanghai Stock Exchange (SSE) yesterday in an initial public offering sized at approximately $175m. The company issued 50 million shares on SSE’s Star Market priced at RMB22.53 ($3.51) each, with Huatai United Securities lead underwriter for the offering. Founded…

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