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BCHT Bio Pays $21 Million for 20% Stake in mRNA Vaccine Company; Will Acquire the Rest

publication date: Jun 29, 2023

Changchun BCHT Biotechnology, a vaccine company, announced a long-term plan to acquire Transcend Biomedical Suzhou, a mRNA vaccine developer. Initially, BCHT will pay $21 million for a 20% stake in Transcend. The two companies have signed a stepped agreement allowing BCHT to acquire additional Transcend share based on Transcend’s achieving specific development milestones. The companies expect BCHT will complete the takeover in the next three to four years. Transcend is a full-process mRNA startup developing a pipeline of vaccines with expertise in product design, synthesis, pilot production and quality control. More details....

Stock Symbol: (SHA: 688276)

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