Jinwu Financial News | An indirect wholly-owned subsidiary of Kangfang Biotech (09926) purchased 35% of Kangrong Oriental's shares. After completing the acquisition, Kangrong Oriental will become an indirect wholly-owned subsidiary of the company. The cost was RMB 267 million.
Kangrong Oriental is an innovative biopharmaceutical company integrating the development, production and sale of antibody drugs. It was established in a joint venture in December 2016 in the form of technology and product injection by the buyer and capital injection by the seller. Kangrong Oriental closely follows the cutting edge of scientific development and focuses on the innovative development of innovative drugs and combination therapies for major diseases such as cardiovascular and oncology.