Tigermed (SHE: 300347, HKG: 3347) has announced its intention to acquire a 40.5650% stake in Shanghai Guanhe Pharmaceutical Co., Ltd (hereinafter referred to as “Guanhe Pharmaceutical”) from DiAn Diagnostics (SHE: 300244) and Suzhou Yingkai Xinyun Enterprise Management Consulting Co., Ltd (hereinafter referred to as “Suzhou Yingkai”, a subsidiary of DiAn Diagnostics) for a total purchase price of CNY 140 million. Upon completion of the transaction, Tigermed and its wholly-owned subsidiary will collectively hold 72.8169% of Guanhe Pharmaceutical’s shares, making Guanhe Pharmaceutical an official subsidiary of Tigermed, included in its consolidated financial statements.
Established in 2016 as a joint venture between DiAn Diagnostics and Tigermed, Guanhe Pharmaceutical specializes in one-stop CRO laboratory services. As of the first half of 2024, the company has participated in over 1100 drug clinical trials, including more than 500 oncology drug clinical trial projects, supported the CDE application and listing of over 35 new drugs, and has technical and project experience in various therapeutic areas such as solid tumors, hematological diseases, cellular immunotherapy, diabetes, hepatitis, cardiovascular diseases, and vaccines. Guanhe Pharmaceutical has also been involved in the clinical trial cooperation for Legend Biotech’s Carvykti (ciltacabtagene autoleucel) for the treatment of relapsed or refractory multiple myeloma.
According to Tigermed’s semi-annual report for 2024, the company plans to expand its business with multinational and domestic large pharmaceutical companies by establishing specific therapeutic area business teams and to enhance its commercial and operational capabilities in the U.S. and Europe through sustainable growth and potential acquisitions.- Flcube.com
