On February 11, Asymchem Laboratories (Tianjin) Co.Ltd(002821) announced that it planned to acquire the equity held by 49 shareholders of snapdragon company in addition to the equity held by Asymchem Laboratories (Tianjin) Co.Ltd(002821) with its own funds of about US $57.94 million through merger. After this acquisition, Asymchem Laboratories (Tianjin) Co.Ltd(002821) will hold 100% equity of snapdragon.
Snapdragon is committed to the research, development and industrial application of disruptive technological continuous reaction in the production of innovative drugs and APIs, and provides route development, design and process optimization services for large pharmaceutical companies and small and medium-sized innovative drug companies in Europe and America. As of February 11, Asymchem Laboratories (Tianjin) Co.Ltd(002821) held 18.18% of snapdragon’s shares.
According to the financial data, snapdragon’s operating revenue in 2020 was US $7.0679 million and its net profit was US $491000; In the first three quarters of 2021, the operating revenue was USD 9.2822 million, the net profit was USD 1.2958 million and the total assets were USD 14.9685 million.
Asymchem Laboratories (Tianjin) Co.Ltd(002821) is a technology driven cdmo company, which can provide comprehensive solutions throughout the whole process of drug development and production. Asymchem Laboratories (Tianjin) Co.Ltd(002821) said that snapdragon has cutting-edge scientific research talents, rich overseas customer network and cutting-edge technology for applying continuity technology in the production of innovative drugs and APIs. After the acquisition, snapdragon will become its overseas R & D platform, further strengthen its R & D strength in the field of small molecule cdmo, especially in terms of continuous production technology, and expand its overseas layout through snapdragon’s existing customer network. At the same time, snapdragon will also cooperate with the company’s Boston R & D center to shorten the service radius of overseas biotech customers, improve the service capacity covering major pharmaceutical companies and biotech companies, bind clinical projects of innovative drugs in the early stage and promote the listing of more valuable innovative drugs.
