Bio-Bridge to acquire 51% stake in Lanzhou Roya Biotechnology

Bio-Bridge Science, a US biotechnology company engaged in the commercial development of vaccines for the prevention and treatment of human infectious diseases, has executed a non-binding letter of intent to acquire 51% of Lanzhou Roya Biotechnology, a bovine serum manufacturer based in China, where the serum market is estimated to be 500.0 million renminbi ($67.0 million) per year. Bovine serum is used in the production of many vaccines as well as for scientific laboratory research. The letter of intent gives Bio-Bridge an exclusive right to complete the acquisition of control of Lanzhou. The purchase is subject to execution of a definitive acquisition agreement (including determination of sale price), as well as full legal and financial due diligence.