Fosun's pharmaceutical wing invested $20m in the diagnostic testing technology company as part of a strategic partnership, boosting its overall equity funding to $115m.
FosunPharma, the pharmaceutical subsidiary of diversified China-based conglomerate Fosun, agreed on Thursday to invest $20m in US-based diagnostics technology provider Astute Medical as part of a strategic partnership agreement.
Fosun secured the rights to distribute Astute’s NephroCheck Test, the only diagnostic test approved by the US Food and Drug Administration for the detection of acute kidney injury (AKI), in China through the deal.
Joel Zhang, CEO of FosunPharma division Fosun Long-March, said: “Astute’s product helps us with early detection of…
