Singapore, Oct. 16 -- Jacobio Pharma has announced that its subsidiary Beijing Jacobio Pharmaceuticals Co. has entered into a Capital Increase and Equity Transfer Agreement with Oceanpine Capital and an industry partner.

Under the agreement, Oceanpine Capital will acquire 80% equity interest in Beijing Jacoray Pharmaceutical Technology Co. for a total consideration ofRMB 200 million(comprisingRMB 125 millionas the upfront payment and an additionalRMB 75 millionas a second instalment milestone payment).

Upon completion, Beijing Jacobio, Oceanpine Capital, and the industry partner will hold 10%, 80%, and 10% of Jacoray, respectively.

Jacoray is the project company for Jacobio's early-stage cardiovascular research programme. The transacti...