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Shanghai ChemPartner Plans Reverse Merger with China's Quantum

03:07 EDT 21 Jun 2017 | ChinaBio Today

ShangPharma will merge its Shanghai ChemPartner division, which includes all of the company's CRO/CMO operations, into Quantum Hi-Tech China Biological. The transaction, a reverse merger, allows ChemPartner access to China's capital markets, rather than spending years waiting for China IPO approval. ShangPharma said ChemPartner will continue to operate as a stand-alone company, even after the merger. Quantum, which is listed on the Shenzhen exchange with a market capitalization of $1.2 billion, produces fructooligosaccharide products as a probiotic for nutritional snacks. Specific terms, including ChemPartner's merger valuation, were not disclosed. More details....

Stock Symbol: (SZE: 300149)

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