BSBE has teamed up with National Pharmaceutical Investment to acquire MXB for $371 million. In a separate development, new material company Mingxun Hi-Tech Material Joint-Stock has raised ‘tens of millions of US dollars’ in a new funding round from Fosun, Addor Capital and Cowin Capital.
BSBE, National Pharmaceutical to buy MXB for $371m
SZ-listed in-vitro diagnostics (IVD) service provider Beijing Strong Biotechnologies Inc (BSBE) has tied up with state-owned China National Pharmaceutical Investment to pick up an aggregate of 95.55 per cent stake in MXB Biotechnologies for 2.6 billion yuan ($371 million), according to a company filing with Shenzhen Stock Exchange.
