NKY purchases 26% equity and increases capital, ultimately holds 35% equity of First Bioscience

On April 3, 2019, BOAI NKY Medical Holdings Ltd. (NKY) announced that recently it reached an agreement with First Bioscience Inc. (FIRST) of equity transfer and an increase in capital and share.

NKY has signed the agreement on equity transfer and capital increase of First Bioscience Inc. with FIRST’s original shareholders. NKY plans to purchase 26% equity from Liu Dan, the largest shareholder of FIRST, with 25.948 million yuan, and increase its capital with 13.818 million yuan, 308,970 yuan of which went into the registered capital of FIRST, the remaining 13.5 million yuan into the capital reserve.

After the completion of the above equity transfer and capital increase, NKY will hold 35% of FIRST’s equity. The registered capital of FIRST will change from the current 2.23 million yuan to 2.54 million yuan. Liu Dan will hold 36% of equity but continue to be the controller of the company.

For the transaction, NKY said in a statement that the investment is about health services. With the current products and customers of NKY, the transaction helps the company expand its business and capability of supply in the field of precision medicine, get a global industry status and achieve long-term development.

NKY said that the company's investment is in the use of its own funds, which will not adversely affect the company's financial and business conditions, the interests of the company and all shareholders.

FIRST is a technology company dedicated to technology research and development in the field of precision medicine. Located in Wuhan, Hubei, the company was established in April 2016 with the registered capital of 2.23 million yuan. The company’s portfolios include Wuhan First Medical Devices Technology co., LTD., Shanghai Puran Technology co., LTD., Wuhan First Medical Test Laboratory co., LTD. and BOAI NKY Medical Holdings Ltd.

The company has launched a series of proprietary platforms, instruments, reagents represented by pyrosequencing instruments and automatic hybridization recognition machines.

The company focuses on the development and marketing of technical products and aims to become a leading provider of products and services in oncology, neurology, psychiatry, and so on.

 During the past few years, NKY has demonstrated its strength with its continuous efforts in various aspects and gained good reputation in the sector. The company’s key business comprises precision medicine and fine chemicals. Precision medicine covers cancer screening, which is based on gene sequencing as the main technology platform, molecular diagnosis of women's disease, personalized medical services, etc. In addition, the fine chemicals business area offers products such as PVP series, PVM/MA copolymer series, and oral-care related series.

NKY is the leading Chinese high-tech specialty chemical company focused on the development and manufacture of PVP series products. All the production of pharmaceutical/ cosmetics/ food/ oral-care series products complies with cGMP, which makes NKY an industry model in China. The results of independent research and development have filled industry blank in China.

Grounded in both the precision medical treatment and health care production areas, the company is always people-oriented. NKY has also been genuinely dedicated to constantly improving its technological quality as well as service standards, therefore ultimately creating a better life for more people.