Walvax Biotech to take 64% stake in Genor BioPharma for around $49 million

31 December 2013

China’s Walvax Biotech (SHE: 300142) has revealed it plans to acquire a controlling 64% equity stake in Shanghai’s Genor BioPharma via two transactions, paying a total of 290 million renminbi (around $49 million), according to news sources including GenePool.

Genor Biopharma, which was formed by China’s Wison Group conglomerate, specializes in monoclonal antibodies (MAbs) and other biologic drugs. It develops its own drug candidates and partners with other biopharma companies.

Walvax intends to acquire 100% of Genor. In September, when rumors of the transaction first surfaced, it was also thought that Walvax would IPO Genor in the USA. So far, that has not been confirmed.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

More ones to watch >