By Fineline Cube 
Adicon Holdings Ltd. (HKG: 9860), a leading independent clinic laboratory (ICL) service provider in China, today announced the execution of a definitive Share Purchase Agreement with JSR Life Sciences, LLC to acquire all issued shares of Crown Bioscience International (“CrownBio”). The transaction is valued at USD 204 million (including an earn‑out component) and is expected to close in mid‑2026, pending customary post‑closing adjustments.
Transaction Overview
| Item | Detail |
|---|---|
| Buyer | Adicon Holdings Ltd. |
| Target | Crown Bioscience International |
| Consideration | USD 204 million (base + earn‑out) |
| Closing Window | Mid‑2026 (subject to regulatory & customary adjustments) |
Strategic Rationale
- Market Transformation – The acquisition upgrades Adicon from a domestic diagnostic platform into a global, integrated laboratory‑services provider spanning diagnostic testing, clinical development, and preclinical research.
- Complementary Capabilities – Adicon’s extensive nationwide ICL network will be merged with CrownBio’s preclinical and translational oncology expertise, creating a unified pipeline that maximizes biomarker discovery and predictive translational tools.
- Geographic Diversification – Post‑acquisition, roughly 23.1 % of the combined revenue is projected to come from outside China, expanding the company’s international footprint.
- Accelerated Innovation – The combined entity is positioned to accelerate drug development timelines and enhance the value proposition for oncology and immuno‑oncology sponsors.
Forward‑Looking Statements
The statements in this release that are not based on historical facts are forward‑looking statements. Actual results may differ materially.-Fineline Info & Tech