Cathay Industrial Biotech to set foundation for further successful corporate development with financing of $135 million.
Cathay Industrial Biotech announced completion of a significant equity financing of $135 million with Shanxi Lu'an Mining (Group) Co.
Proceeds will be used to expand production capacity of cathay's "long-chain diacid" and "green nylon" business.
HBM Healthcare Investments brings in no additional capital in this financing and owns 10 percent of company with completion of transaction.