NKY Pharmaceuticals to buy BioVision

With the aim of focussing on precision medicine China based public chemical manufacturing firm NKY Pharmaceuticals is planning to buy US biotechnology firm BioVision.

The acquisition will be conducted via NKY Biology, a vehicle specially set up for the planned investment.

NKY will issue a total of 41.98 million shares to five shareholders of NKY Biology at a price of 40.5 yuan per share, in order to buy a 83.74% stake.

BioVision is said to specialize in drug screening assessment, with major products such as bioanalysis kits, proteins and enzymes as well as antibodies. The company’s sales network covers more than 70 countries.

For the first ninth months of 2017, BioVision recorded a net profit of US$9.19 million.