Walvax To Gain Majority Control of Genor BioPharma For $49 Million

   Date:2013/12/30     Source:

Walvax Biotech will acquire 64% of Shanghai’s Genor BioPharma via two transactions, paying a total of 290 million RMB ($49 million). Genor Biopharma, which was formed by China’s Wison Group conglomerate, specializes in MAbs and other biologic drugs. It develops its own drug candidates and partners with other biopharmas. Walvax intends to acquire 100% of Genor. In September, when rumors of the transaction first surfaced, it was also thought that Walvax would IPO Genor in the US. 

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