ChinaBio today -- Beijing SL Pharmaceutical Co. announced it will establish a JV in Liaoning to produce in vitro products. The JV will be capitalized with 20 million RMB ($4.4 million). SL Pharma will contribute 10.2 million, and two private investors will add the remaining 9.8 million RMB, giving SL Pharma a controlling 51% stake. Up to this point, SL Pharma has derived its revenue from biotech drugs and a number of treatments for cancer and hepatitis.
