Yue Da International to Acquire 52% Stake in Organoid Technology Firm

MT Newswires Live

May 01

Yue Da International (HKG:0629) entered into a non-legal binding term sheet to potentially acquire a 52% total equity interest in Chengdu Organoidmed Medical Laboratory, a Wednesday Hong Kong bourse filing said.

The firm will purchase a 30% equity stake through a capital injection of around 30 million yuan and a 22% equity interest from seller Shenzhen Jingke Biotechnology for 22 million yuan.

The target company engages mainly in the development of organoid technology and the application of organoid technology in precision tumor medicine.

The parties are yet to enter into a formal agreement regarding the acquisitions.

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