BioRay Pharmaceutical Co., Ltd.
BioRay is a commercial-stage biopharmaceutical company with a full suite of end-to-end capabilities in China, focusing on discovering, developing, manufacturing and commercializing medicines for immune-mediated diseases and cancer. As a pioneer in China’s biopharmaceutical industry, BioRay started the R&D of biologics treatments in 2003 as a core business division of Hisun Pharmaceutical, a specialty comprehensive pharmaceutical group founded in 1956. In 2019, PAG, a leading Asia-focused private equity firm, acquired the control of BioRay with an investment of RMB3.8B (USD$540M for 58% ownership), marking one of the largest PE investment in Asia’s biotechnology industry to date.
