JAKARTA -- Global private equity firm General Atlantic will invest $55 million in a Jakarta-based biopharmaceutical joint venture between Indonesia's largest drugmaker, Kalbe Farma, and South Korean biotechnology company Genexine, as the venture seeks to become a dominant player in Southeast Asia's biological pharmaceuticals market.
Sie Djohan, president director of the joint venture, Kalbe Genexine Biologics, better known as KGBio, said on Wednesday that 60% of the funds will be used to support the company's portfolio expansion and innovations, 30% to expand production capacity and 10% for clinical trials.
