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news.Bio-Bridge Science has executed a non-binding letter of intent to acquire 51% of China's Lanzhou Roya Biotechnology. Completion of the acquisition is subject to execution of a definitive acquisition agreement, including determination of sale price, as well as full legal and financial due diligence.
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Lanzhou Roya is a bovine serum manufacturer in China. Bovine serum is used in production of many vaccines as well as for laboratory scientific research.
Dr Liang Qiao, chairman and CEO of Bio-Bridge Science, said: “We believe that completion of this acquisition will enable us to both begin earning revenue and build a distribution network in China. Acquiring Lanzhou Roya will also complement our product lines. We expect to acquire more valuable and profitable vaccine related companies in China to increase our product offerings while our in-house vaccine development is under way.”