Apeloa Pharmaceutical (SHE:000739) plans to establish a joint venture with three other investors, according to a Shenzhen bourse filing on Friday.
The venture, Zhejiang Ante Yutai Biotechnology, will manufacture antibody and protein drugs, and other biopharmaceutical products and will have a registered capital of 10 million yuan.
The company will own 34.6% of the venture.
The pharmaceutical company's shares slumped 6% at the close.
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