Oxford BioDynamics sets sights on China following GL investment

(Sharecast News) - AIM-listed biotechnology company Oxford BioDynamics has launched a strategic partnership with GL Capital, a Chinese healthcare-focused investment group.GL acquired a 5% stake in Oxford BioDynamics, the firm's first European investment, on Wednesday after the group subscribed for 4.68m new shares in the company - worth roughly £9.75m.Oxford BioDynamics aims to use its newfound access to China's large personalised healthcare market to take advantage of the region's growing demand for such products.Christian Hoyer Millar, Oxford BioDynamics' chief executive, said, "We identified Asia as a core focus for international expansion and this co-operation agreement will allow us to address the many opportunities that we see in this region.""We have been impressed by the depth of scientific and commercial understanding GL have shown in our interactions to date, and we are convinced that they are the right strategic partner as we begin to engage with the important Chinese market," added Millar.As of 0840 BST, Oxford Bio shares had grown 2.95% to 216.20p.