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Huadong Signs $60 Million Deal for MediBeacon Medical Diagnostic Devices

publication date: Jul 31, 2019

Huadong Medicine announced a $60 million deal to acquire China/Asian rights to a portfolio of optical medical diagnostic devices from MediBeacon of the US. The agreement's initial product, which assesses kidney function by measuring florescence in the skin, is about to start a pivotal US-EU trial. Huadong will make an initial $15 million equity investment in MediBeacon at a $300 million valuation and a second $15 million investment upon US approval at a $400 million valuation. More details....

Stock Symbol: (SHZ: 000963)

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