Dojin Group Co., Ltd. entered into a share transfer agreement to acquire Advanced Cell Technology and Engineering Ltd. from Gene Techno Science Co.,Ltd. for ¥0.
July 09, 2020
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Dojin Group Co., Ltd. entered into a share transfer agreement to acquire Advanced Cell Technology and Engineering Ltd. from Gene Techno Science Co.,Ltd. (TSE:4584) for ¥0 on July 10, 2020. After completion, Advanced Cell Technology and Engineering will become a subsidiary of Dojin Group. With the transfer of shares, Remcare Co., Ltd., a wholly owned subsidiary of Advanced Cell Technology will also become Dojin Group's subsidiary. As of November 12, 2020, Dojin Group Co., Ltd. has been replaced as buyer with Reverse Co., Ltd.. Post completion, Advanced Cell Technology and Engineering Ltd. will become wholly owned subsidiary of Reverse Co., Ltd. As at March 31, 2020, Advanced Cell Technology and Engineering had total assets of ¥84.6 million and net assets of ¥43.7 million . For the year ended March 31, 2020, Advanced Cell Technology and Engineering had revenues of ¥83.2 million, operating loss of ¥226.5 million and net loss of ¥50.8 million. The Board of Directors of Dojin Group and Gene Techno Science at the meeting held on July 10, 2020 resolved the transaction. The transaction is expected to complete on September 30, 2020. As of September 30, 2020, execution date of the share transfer has been postponed to December 31, 2020.
Kidswell Bio Corp, formerly Gene Techno Science Co Ltd, is a Japan-based company mainly engaged in the development of biopharmaceuticals. The biosimilar business is engaged in the research, development and provision of filgrastim biosimilar products and pegfilgrastim biosimilar products for cancer, darbepoetin alfa biosimilar products for renal diseases, and ranibizumab biosimilar products for eye diseases. The new biopharmaceutical business is engaged in the research and development of anti-RAMP2 antibodies for cancer and eye diseases, as well as new antibodies. The new biotechnology business is engaged in the development of regenerative medicine products that utilize intracardiac stem cells for pediatric congenital heart diseases, and regenerative medicine products that utilize dental pulp stem cells for cleft lip and palate and intestinal ganglion cell deficiency diseases, as well as the joint research business with universities.
Dojin Group Co., Ltd. entered into a share transfer agreement to acquire Advanced Cell Technology and Engineering Ltd. from Gene Techno Science Co.,Ltd. for ¥0.