JHL Biotech, Inc. (GTSM:6540) announced that it has received a private placement of 28,368,794 shares at TWD 90 per share for gross proceeds of TWD 2,553,191,460 on December 5, 2016. The company has entered into a strategic alliance agreement with a new investor, Sanofi (ENXTPA:SAN). The investor will carry out an initial payment of TWD 669,776,000 to acquire the rights of the biosimilar of Rituximab.

The conversion was made through www.oanda.com on December 5, 2016.