3SBio of Shenyang will pay $290 million to acquire the biologic contract development and manufacturing operations of Therapure, a Toronto area biopharma focused on plasma drugs. 3SBio formed a JV with CPE Funds, the private equity arm of CITIC, to complete the purchase. Therapure will spin off its plasma-based drug manufacturing and commercialization operations into a new company, called ProductsCo. In addition to the $290 million purchase price, 3SBio/CPE will contribute $16-$20 million to ProductsCo for the construction of a manufacturing facility. 3SBio, a China innovative biologic drug company, positioned the acquisition as a move into a new market that will provide the opportunity for future alliances with North American biopharmas
