ADICON HOLDINGS (09860) announced that on November 13, 2025 (after trading hours), the buyer Miramar Lifesciences Limited (a wholly-owned subsidiary of the company), the seller JSR Life Sciences, LLC, and the target company Crown Bioscience International entered into a share purchase agreement for the acquisition of 100% of the issued shares of the target company. According to the agreement, the buyer conditionally agreed to acquire 100% of the issued shares of the target company from the seller for a total consideration of $204 million. Upon completion of the transaction, the target company will become a wholly-owned subsidiary of the buyer.

Crown Bioscience International is a global contract research organization (CRO) dedicated to advancing precision medicine in oncology, immuno-oncology, and other therapeutic areas. The company collaborates with biotech and pharmaceutical firms to accelerate drug development through integrated preclinical, translational, and clinical biomarker services.

ADICON HOLDINGS primarily provides independent clinical laboratory (ICL) services, including medical testing, clinical trials, scientific research, health management, and pathology consultation. The company focuses on R&D in core disease areas such as infectious diseases, women's health, solid tumors, perinatal and pediatric care, and hematology, covering multiple disciplines including internal medicine, pediatrics, obstetrics and gynecology, oncology, and neurology.

The board believes the acquisition aligns with the group's strategy to expand its product portfolio and will deliver long-term strategic benefits to the company.