The company said one of its units will purchase a 100% stake in Hygieia, with the transaction to be settled through a combination of cash payments and newly issued shares, News.Az reports, citing Reuters.
Upon completion of the deal, Hangzhou Hygieia will become a subsidiary of Sino Biopharmaceutical.
The acquisition marks the latest step in Sino Biopharmaceutical’s expansion strategy aimed at enhancing its innovative drug pipeline. It follows the company’s agreement last year to acquire LaNova Medicines.
Hangzhou Hygieia Biomedical focuses on the development of small interfering RNA (siRNA) therapies and has established a comprehensive drug development platform that spans from target discovery to clinical proof-of-concept. Its research activities are centered on treatments for weight management and metabolic conditions, cardiovascular and cerebrovascular diseases, as well as neurological disorders.
