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Chinese-AstraZeneca cancer cure joint venture raises $100m

Public-private Dizal Pharma to boost R&D and domestic footprint

A technician inspects anti-cancer drugs at a laboratory in Lianyungang, Jiangsu Province.    © Reuters

SHANGHAI -- Dizal Pharmaceutical, a joint venture between China's state-owned SDIC Fund Management, AstraZeneca and Zytz Partners, has announced the closing of a $100 million financing round led by Lilly Asia Ventures.

New investors Sequoia Capital China, Trinity Innovation Fund and Wuxi NewForce Fund also participated in the round, according to a company statement on Wednesday.

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