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news.Bio-Bridge Science has announced that its wholly-owned subsidiary, Bio-Bridge Science Co closed the acquisition of Xinheng Baide Biotechnology, pursuant to which BGES purchased newly issued shares of Xinheng Baide.
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Bio-Bridge Science (BGES) now controls 51% of the outstanding capital stock of the seller. The total cash purchase price for the shares is RMB6 million.
Liang Qiao, chairman and CEO of Bio-Bridge Science, said: “Xinheng Baide fits into our strategic plan by providing a potential steady, while growing, source of revenues to us, as well as providing a new distribution channel for our products.”