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Acrobiosystems to Invest 150 Million Yuan in Upstream Life Science, Biopharmaceutical Fund; Shares Slide 9%

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Acrobiosystems (SHE:301080) will invest 150 million yuan as a limited partner in a new venture capital fund, according to a Thursday filing with the Shenzhen bourse.

The amount is equivalent to 30% of the 500-million-yuan Suzhou Su-High-Tech Rongsheng ACRO Venture Capital Partnership.

The fund will have a duration of eight years. It will invest in upstream life science tools and services, biopharmaceuticals, medical devices, and biomanufacturing, the filing said.

The biopharmaceutical company's shares fell 9% during the afternoon session on Thursday.

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