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China In-Focus: Kun Run Biotechnology Eyes $8 Million Private Placement

April 23, 2010 (FinancialWire) — Kun Run Biotechnology, Inc.  (OTCBB: KURU), a biopharmaceutical company in China that focuses on manufacturing and sales of peptides, peptide-based drugs and small molecule drugs, said it has signed a private placement agreement totaling around $8 million of preferred stock and warrants with Caduceus Asia Partners, L.P., an investment fund managed by OrbiMed Advisors, LLC, and Xueyun Cui, the chairman of the company's board of directors and the majority stockholder of Kun Run.

Nancy T. Chang, chairman and senior managing director of OrbiMed's Caduceus Asia Partners Fund, will join the board of Kun Run in connection with this transaction.

Kun Run said that the net proceeds will primarily be used for potential acquisitions of drug products and pipeline assets and working capital needs.

China-based Kun Run Biotechnology, together with its subsidiaries, engages in manufacture and sale of polypeptide medicines. It uses solid phase peptide synthesis and advanced purifying technology to produce various therapeutic polypeptide drugs, of which is "TP-5" most known for regulating humans' immune systems in order to defend and cure malignant diseases. The company maintains two manufacturing plants.

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