Shanghai, China—MicroPort Scientific Corporation (00853.HK, “MicroPort®”) recently announced that its subsidiary, MicroPort Group Co., Ltd. (“MicroPort® Investment”), has concluded an agreement with Shanghai Huabo Information Services Co., Ltd. and Shanghai Fengjun Enterprise Management Partnership (Limited Partnership), under which MicroPort® Investment will acquire 100% equity interest in Shanghai Huanbo Digital Technologies Co., Ltd. (“Huanbo”) for a total consideration of up to RMB 650 million, thereby obtaining full property rights of Huanbo located in Pudong New Area, Shanghai China.
The Huanbo property is near to the Zhangjiang Bio-pharmaceutical Base, a national industrial base for bio-pharmaceutical technology in Shanghai. The property has a site area of approximately 30,000 square meters and an aggregate GFA of approximately 70,000 square meters. The property will be used mainly as Miracle Point Innovation Center of MicroPort® Investment for New Materials and Medical Devices, and will also be used as one of the research and development center of Fujian Kerui Pharmaceutical Co., Ltd., a company recently joined the MicroPort® family.
Dr. Hongyan Jiang, Vice President of Research & Development Support and Shared Platform at MicroPort®, said, “The new Miracle Point Innovation Center for New Materials and Medical Devices will serve as a base for operations, research and development, and manufacturing for MicroPort®’s strategic engagement in new bio-pharmaceutical materials, regenerative medicine and other emerging business areas. The bio-pharmaceutical materials platform aims to develop essential medical materials to address the clinical needs of bio-pharmaceuticals and medical devices, and to address the technical challenges of precise and sustained release and long-term biocompatibility of materials. The regenerative medicine platform will focus on solving pressing issues surrounding tissue repair, including bone and cartilage tissue, skin tissue, nerve tissue, and oral cavity, by bringing together innovative technologies in the field of tissue engineering and regenerative medicine. Drug-device combination products hold the potential for delivering safer and more effective therapies and greater convenience or comfort for patients, which could significantly enhance the efficacy of a drug or a device alone. ”
“Innovation is one of MicroPort®’s core values,” said Mr. Yimin Xu, Executive Vice President of Product Registration and Property Management at MicroPort®. “The acquisition of Huanbo property will, to a certain extent, mitigate the increasingly severe spatial constraint for innovation and industrialization faced by all subsidiaries of the Group in general. We believe that, with the help of governments and communities at all levels, MicroPort® will be able to address the root causes of spatial limitation for its growth in the Yangtze River Delta and even across the country by various means including in-house development, purchasing and leasing. In addition, MicroPort® will continue to focus on independent innovation and make consistent and intensive investments in research and development. We will facilitate the upgrading of synergetic innovation for China’s high-performance medical device industry and contribute to the development of Zhangjiang Hi-tech Demonstration Zone while pursuing efficient development and high-quality services to doctors and patients. ”