Hillhouse Capital and Chen Yi Investment are making a secondary investment in the Hualan Biological Engineering spinoff which is now valued at more than $1.9bn.

Two investors are providing RMB2.7bn ($292m) in secondary funding for Hualan Biological Vaccines, the vaccine-focused spinoff of China-based biopharmaceutical company Hualan Biological Engineering, DealStreetAsia reported yesterday, citing a Shenzhen Stock Exchange filing.

Investment management firm Hillhouse Capital is paying approximately $175m for a 9% stake in the spinoff while Chen Yi Investment, an investment vehicle for Liu Xiaodan, a former chairman of investment bank Huatai United Securities, is taking a 6% share in return for $117m.

Formed in 2005, Hualan…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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