) said it is launching a new fund with China International Capital Corporation to invest $1 billion in China’s healthcare sector, as it expands its research work in the country.
AstraZeneca was a minority partner in the fund and would mainly play an advisory role in selecting investments and supporting the firms, he said. The companies did not disclose financial details of the deal. The company also planned to expand an existing research and development center in Shanghai from 450 employees to 1,000, and establish a new artificial intelligence innovation center in the city.
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