Guanhao Biotech Co.,Ltd. intends to acquire 31% stake in ZY Therapeutics Inc. from U.S.TIANYOU CAPITAL CORP for $3.1 million.
September 19, 2019
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Guanhao Biotech Co.,Ltd. (SZSE:300238) agreed to acquire 31% stake in ZY Therapeutics Inc. from U.S.TIANYOU CAPITAL CORP for $3.1 million on September 19, 2019. Guanhao Biotech will pay to the seller $0.5 million of the equity transfer price, and undertake the investment payment to the ZY Therapeutics of $2.6 million. Post acquisition, Guanhao Biotech will hold 31% of the equity and U.S.TIANYOU CAPITAL will hold 29.73% stake in ZY Therapeutics. As of December 31, 2018, ZY Therapeutics reported total assets of $0.99 million, net assets of $0.91 million, revenue of $0.02 million and net loss of $0.87 million. The transaction has been approved in the 17th meeting of the 4th directorate of Guanhao Biotech.
Guanhao Biotech Co., Ltd. is a China-based company principally engaged in the research, development, production and distribution of regeneration medical materials and medical implanted devices. The Company primarily provides biological dura mater patches, chest general surgery department patching membranes (type P) and (type B), asepsis biological wound-surface protection membranes, type B dura matrix, intraocular lens as well as agent products. The Company is also engaged in provision of related technological services.
GUANHAO BIOTECH CO.,LTD. 
