Sino Biopharmaceutical to acquire a 60% stake in Softhale from New Rhein Healthcare Investors for $110m.

Sino Biopharmaceutical, an innovative research pharmaceutical group in China,agreed to acquire a 60% stake in Softhale, a privately held Belgium based respiratory company, from New Rhein Healthcare Investors, a private equity firm that invests in life sciences firms, for $110m. Closing is expected within March 2021. "During the past two years, Softhale has made significant progress in developing its platform and achieved important regulatory milestones. The sale of Softhale represents another strong result for our investors and demonstrates New Rhein's continued ability to choose the right opportunities and build value in the companies we back. We have been very deliberate in ensuring we find the right partner to continue the successful trajectory of Softhale, with the well-being of patients at heart," Greg Parekh, New Rhein Founder and Managing Partner.