Guanhao Biotech Will Acquire ZY Therapeutics

CST Updated Sep 23, 2019 15:34

According to Guanhao Biotech, on September 19, 2019, Guanhao Biotech Co., Ltd (Guanhao Biotech) announced that it would acquire a 31% stake in ZY Therapeutics Inc. (ZY Therapeutics) held by U.S.TIANYOU CAPITAL CORP (U.S.TIANYOU) for 3.1 million U.S. dollars.

The transaction actually began in February 2016, when Guanhao Biotech and U.S.TIANYOU's controlling partners, Zhang Yongming and Lin ling, signed an investment agreement with ZY Therapeutics' s founders, Jian Bao and Jun Li, to let U.S.TIANYOU acquire 60.73% stake in ZY Therapeutics for $6 million.

After the acquisition, Guanhao Biotech and U.S.TIANYOU will respectively hold 31% and 29.73% stake in ZY Therapeutics.

ZY Therapeutics is a biomedical technology company founded in North Carolina on September 15, 2015. Its main business is to develop an innovative delivery platform for targeted drugs in nanoscale, paclitaxel polysaccharide carriers for tumor, and paclitaxel albumin binding improved injection. According to its performance in the first half of 2018 to 2019, the biopharmaceutical company is still in the research and development stage with no profit.

Guanhao Biotech is a company focusing on the regenerative medicine industry, expanding its business to life science fields. The company builds bridges to globe-wide high-end technological resources and achievements and keeps investing in the area of biomaterials, stem cells, pharmaceutical industry, and advanced medical technologies, resulting in a form of "3+1" branches, namely the material, the cell therapy, the pharmaceutical branches, and a tech incubator platform.

Beihao Research Institute owned by Guanhao Biotech is carrying out a CAR-T project and has made continuous progress in the first half of 2019. With cooperation with well-known hospitals in China, this project is mainly about carrying out experimental research on refractory recurrent lymphoma with Tan-CAR. And the next step is to carry out further clinical research on lymphoma and observe a long-term efficacy.