Press time:2021-07-20From:CR Pharma [ Font:BigMediumSmall]
On 20 July, Beijing Pharmaceutical Investment and Management (BVI) Limited, a wholly-owned subsidiary of the Company and as a purchaser (“Purchaser”), and Yue Cheng International Capital (HK) Limited, Hualida Development Co. Limited, Ren Xiaojuan and Bei Ni Ltd as sellers (collectively, the “Sellers”), amongst others, entered into a share purchase agreement (the “Share Purchase Agreement”), pursuant to which the Purchaser conditionally agreed to purchase, and the Sellers conditionally agreed to sell, an aggregate of 51,458,400 ordinary shares of Immunotech Biopharm Ltd (“Immunotech”) (representing 10.0% of the total issued share capital of Immunotech as of the date of this announcement) at a total consideration of approximately HK$ 799.66 million, representing a price of HK$ 15.54 per share (the “Proposed Acquisition”).
Immunotech together with its subsidiaries (“Immunotech Group”; Stock Code: 6978.HK) is a cellular immunotherapy biopharmaceutical company in China focusing on the research, development and commercialization of T cell immunotherapy. Immunotech Group has been deeply involved in the field of cellular immunotherapy for around 15 years, has established an experienced research and development team and full-scale technology platform, and has obtained the relevant intellectual property rights for its core technology and products.
The Proposed Acquisition marks an important step for CR Pharmaceuticals to enter the field of cellular immunotherapy, reflecting the Company’s recognition of Immunotech Group’s value in the field of T cell immunotherapy and its optimism about the market of this field. Cellular immunotherapy is an important development direction for tumor therapy in the future. Through the Proposed Acquisition, it is expected that the Group can complete its strategic layout in the field of cellular immunotherapy.
