China-based Yantai Dongcheng Pharmaceutical Group Co., Ltd (SHE: 002675) is set to acquire a 100% stake in US-based firm XingImaging LLC for a consideration of USD 30.2 million from sellers Gilles Tamagnan, Molecular Neuroimaging Holdings LLC, Kenneth Marek, Bill (Piu) Chan, David Alagille, Rebecca Evans, and Gu Zhuqin.
XingImaging’s Focus and Specialization
Although based in Connecticut, XingImaging declares itself to be focused on the China market. The firm specializes in radiotracer production through Positron Emission Tomography (PET) acquisition to evaluate biomarkers and support the development of treatments for neurodegenerative disorders, including Alzheimer’s and Parkinson’s disease, as well as oncology and other disease pathologies.
Collaborations and Market Position
XingImaging works in collaboration with biotech and pharmaceutical companies for the testing and advancement of therapeutics through brain imaging. This acquisition by Yantai Dongcheng Pharmaceutical Group is expected to enhance the group’s capabilities in the development and commercialization of innovative treatments, particularly in the areas of neurodegenerative diseases and oncology.-Fineline Info & Tech
