Xi’an Alena Biotechnology Co., Ltd entered into a share transfer agreement to acquire 80% stake in Shaanxi Chaoying Bio-Technology Co., Ltd. from Cybrdi, Inc. for CNY 25.6 million.
July 18, 2017
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Xi’an Alena Biotechnology Co., Ltd entered into a share transfer agreement to acquire 80% stake in Shaanxi Chaoying Bio-Technology Co., Ltd. from Cybrdi, Inc. (OTCPK:CYDI) for CNY 25.6 million on July 19, 2017. The other shareholders of Shaanxi Chaoying Bio-Technology, Shannxi Yanfeng Real Estate Development Co., Ltd, Shannxi Chaoying Cosmetics Co., Ltd, and Immuno-Oncocemomics Inc. had given up their respective rights of first refusal to purchase the equity interest held by Cybrdi in Shaanxi Chaoying Bio-Technology. The penalty for breach of the agreement is 5% of the consideration of the transaction.
Transaction is subject to parties complete all procedures as set out in the agreement, and 80% of the equity interest of Shaanxi Chaoying Bio-Technology is transferred to Xi’an Alena Biotechnology and Register of Shareholders, Articles of Association, and company registration files of Shaanxi Chaoying Bio-Technology have been clearly updated to reflect that Cybrdi owns that amount of equity interest.
Cybrdi Inc is a united states-based company, which operates as a holding company. The Company's subsidiaries include Chaoying Biotech which is engaged in biotechnology manufacturing, and research and development company. Through Chaoying Biotech, Cybrdi controls SD Chaoying, a Cultural and Entertainment company. Its key product is tissue chips, intended to provide high-throughput molecular profiling and parallel analysis of biological and molecular characteristics for hundreds of pathologically controlled tissue specimens. The Companyâs Tissue Microarrays (TMAs) segment offers a variety of tissue array products and services on the commercial market. The Technical Services segment provides in-house technical services platform to perform customized research according to customer specifications. The Culture, Entertainment, and Real Estate Business segment is developing a Culture and Entertainment Square in Changle City of Shandong Province.
Xi’an Alena Biotechnology Co., Ltd entered into a share transfer agreement to acquire 80% stake in Shaanxi Chaoying Bio-Technology Co., Ltd. from Cybrdi, Inc. for CNY 25.6 million.