MicroPort® Announces Strategic Investment with Kerui Pharma

Shanghai, China, 10 September 2021 - MicroPort Scientific Corporation (MicroPort®) announced that its subsidiary, Shanghai MicroPort Medical (Group) Co., Ltd. (MicroPort® Shanghai), entered into an equity acquisition agreement with Fujian 618 Industry Equity Investment Partnership (618 Fund), acting in concert with Fujian Tendering Purchasing Group Co., Ltd.(Tendering Purchasing Group).

Under the Agreement, MicroPort® as a strategic investor will acquire 45% of the equity of Fujian Kerui Pharmaceutical Co., Ltd. (Kerui Pharma) from Tendering Purchasing Group and 618 Fund, for about RMB 111 million Yuan. MicroPort® will become the largest shareholder of Kerui Pharma after the acquisition, and will gain the right of control in operations under arrangements.

Yiyun Que, Senior Vice President of Intelligent Manufacturing and Supply Chain at MicroPort®, said, “Kerui Pharma is one of the few rapamycin API suppliers in China with NMPA, FDA and CE certifications. Given high quality and state-of-the-art manufacturing techniques, it has become the major rapamycin API supplier for MicroPort® drug-eluting stents over the past 12 years. The investment will enhance the sustainability of MicroPort®’s supply chain management system, leading to the acceleration of the availability of MicroPort® drug eluting stents across markets around the world, allowing MicroPort® to continue to provide trustworthy and universal access to state of the art total solutions that prolong and reshape the lives of patients.”

Founded in 1999, Kerui Pharma is a national high-tech enterprise engaged in the development, manufacturing and commercialization of high value-added fermentation-based active pharmaceutical ingredients (APIs) such as immunosuppressive and anti-tumor agents. The company has received the GMP certificate and approval from China’s National Medical Products Administration (NMPA), the U.S. Food and Drug Administration (FDA) and CE, and is a leading manufacturer of high-quality rapamycin worldwide.

Dr. Seung-Kyun Yue, Senior Vice President of Business Development and Project Management at MicroPort® noted, “As the majority shareholder of Kerui Pharma once the acquisition completes, MicroPort® will remain committed to making sizeable investments in research and development projects and will develop a long-term product strategy for Kerui Pharma, which will guide it to gradually extend its business scope from APIs to pharmaceutical preparation research and manufacturing. Meanwhile, MicroPort®’s existing portfolio of devices, will contribute to a strong synergy with Kerui Pharma, which will unleash tremendous potentials for cooperation in multiple orientations of research and development. Drug-device combination products have the potential to enable safer and more effective treatments and easier or more convenient use by patients, thus significantly improving the performance of any single drug or device alone.”

Mr. Zongting Ding, Deputy General Manager of Tendering Purchasing Group and Chairman of the Board of Directors of Kerui Pharma, said, “As the current major shareholder of Kerui Pharma, we are excited for MicroPort® to introduce its modern management system and global resources into Kerui Pharma. Together, we will enhance the capabilities for the development, manufacturing, sales and marketing of innovative drugs. Simultaneously, this will contribute to the high-quality development of the biopharmaceutical and medical device industry in Fujian. ”

About Shanghai Microport Medical (Group) Co., Ltd.

Shanghai MicroPort Medical (Group) Co., Ltd. (MicroPort®), is a subsidiary of MicroPort Scientific Corporation (Group) Co., Ltd. (stock code: 00853.HK). As a leader in high-end innovative medical solutions, MicroPort® places emphasis on the human dimension while integrating the pursuit of perfection and innovation into the corporate DNA. In the future, MicroPort® will continue to pursue an innovative, people-centered culture to provide patients and physicians around the world with innovative high-end medical devices and integrated solutions.