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Zhifei Biological to Acquire Chongqing Chenan Bio, a Diabetes/Obesity Company

publication date: Nov 27, 2023

China’s Zhifei Biological, a vaccine maker, plans to expand into metabolic therapeutics by acquiring Chongqing Chenan Biopharma, a company with six metabolic drug candidates in clinical trials including late-stage candidates for diabetes and obesity. Chenan’s GLP-1 derivative liraglutide and the insulin product degludec have completed Phase III trials. Founded in 2015, Chenan is 85% owned by Zhirui Investment. Chenan’s legal representative, Jiang Lingfeng, is the vice chairman of Zhifei and son of Zhifei’s de facto controller.  Gaoxia Zhang, who holds the remaining 15% of Chenan, has agreed to the sale. Financial details were not disclosed. More details....

Stock Symbol: (SHE: 300122)

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