Bio-Bridge buys Xinheng Baide
Illinois, USA-based Bio-Bridge Science, a biotechnology company engaged in the commercial development of vaccines for the prevention and treatment of human infectious diseases, says that its wholly-owned subsidiary, Bio-Bridge Science (HK) has closed the acquisition of Xinheng Baide Biotechnology, a serum manufacturing company incorporated in China, pursuant to which BGES purchased newly-issued shares of seller. BGES now controls 51% of the outstanding capital stock of the the Chinese firm.
The total cash purchase price for the shares is 6.0 million renminbi ($881,047). Xinheng Baide, located in the city of Huhhot in Inner Mongolia, manufactures and distributes, primarily in China, bovine serum and other related products which are used in vaccine production as well as scientific research.
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