PE firm Hillhouse’s big biotech bet hits roadblock amid tightening rules

PE firm Hillhouse’s big biotech bet hits roadblock amid tightening rules

Photo by Louis Reed on Unsplash

Hillhouse Capital’s proposed 2.3 billion yuan ($328 million) investment in Asymchem Laboratories (Tianjin) Co. Ltd. is off after the clinical testing specialist revamped its fundraising plan under new regulatory standards.