Ropes & Gray Aids TPG In $173M Chinese Pharma Buyout

Law360, New York (March 29, 2013, 4:22 PM EDT) -- An affiliate of TPG Capital LP has teamed with the chief executive of ShangPharma Corp., a China-based, U.S.-listed biomedical research group, to take the company private in a $173 million deal that closed Wednesday.

The take-private will see ShangPharma, which spent just over two years as a public company, back under the watchful eye of TPG, which invested $30 million in ShangPharma back in 2007, before the company debuted on the New York Stock Exchange.

TPG Biotech, the private equity firm's life science venture investment arm,...
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