New Jersey-based Techedge has acquired China BioPharma (CBP), which has majority ownership rights to Tianyuan Bio-pharmaceuticals, headquartered in Zhejiang Province, China.
According to the agreement, Techedge will acquire 100 percent of the outstanding capital stock of CBP in exchange for 3,000,000 unregistered shares of Techedge's common stock to be issued.
"With this acquisition, together with China BioPharma, we will bring more international expertise, technologies, and management into Tianyuan Bio-Pharmaceutical and help expand the marketing capability beyond China. This acquisition will make Tianyuan Bio-Pharmaceutical a much stronger company," said Peter Wang, CEO of Techedge.
Tianyuan focuses primarily on vaccines for epidemic hemorrhagic fever (Ebola)
and influenza. In the coming months, the company will work toward producing
three to five new antibacterial and antiviral vaccine products.