April 23, 2010 (FinancialWire) — Kun Run Biotechnology, Inc.  (OTCBB: KURU), a biopharmaceutical company in China that focuses on manufacturing and sales of peptides, peptide-based drugs and small molecule drugs, said it has signed a private placement agreement totaling around $8 million of preferred stock and warrants with Caduceus Asia Partners, L.P., an investment fund managed by OrbiMed Advisors, LLC, and Xueyun Cui, the chairman of the company's board of directors and the majority stockholder of Kun Run.

Nancy T. Chang, chairman and senior managing director of OrbiMed's Caduceus Asia Partners Fund, will join the board of Kun Run in connection with this transaction.

Kun Run said that the net proceeds will primarily be used for potential acquisitions of drug products and pipeline assets and working capital needs.

China-based Kun Run Biotechnology, together with its subsidiaries, engages in manufacture and sale of polypeptide medicines. It uses solid phase peptide synthesis and advanced purifying technology to produce various therapeutic polypeptide drugs, of which is "TP-5" most known for regulating humans' immune systems in order to defend and cure malignant diseases. The company maintains two manufacturing plants.

Streaming Research for all companies mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate, courtesy of Stock Smart (at http://investrend.stocksmart.com/ss/html/hpcompany.html).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[hlmsmlh] [fnncngj] [chnchn]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.