NANJING, China, Jan. 25, 2023 /PRNewswire/ — As the tissue engineering and regenerative medicine industry has shown tremendous potential in clinical practices in recent years worldwide, China’s blue ocean market welcomes the first wave of acquisitions.
ReLive Biotechnologies, Ltd. (“ReLive” or “Company”, a leading industry player, announces it has completed the acquisition of all operating assets of Germany-listed biotech company Co.Don AG (CNW.DF) (“Acquisition”), taking over the global patent rights of its flagship products “Spherox” and “Chondrosphere”. “Spherox” is one of the only two authorized cell therapies for the regenerative treatment of articular cartilage defects globally. It was authorized by the European Medicines Agency (EMA) for distribution across Europe in 2017.
Simultaneously with the acquisition, ReLive also completed its Series A financing (“Series A”) of $36 million to fund the Company’s global ambition. ReLive plans to use the fund for R&D, licensing, manufacturing, distributions, and other operational needs in China, U.S. and Europe.
Series A was led by Shanghai Healthcare Capital (SHC), with contributions from two existing angel investors, Indaco Capital and Jiuyo Capital, and a new joiner Watson Capital. G&G Capital serves as the financial advisor.
Aside from capital financing, SHC is also expected to support ReLive in both research innovation and commercialization with its robust industry resources. Backed by Shanghai Industrial Investment (Holdings) Co., Ltd (SIIC), Shanghai Pharma and other key players in the healthcare ecosystem, SHC is able to connect ReLive with research institutes, clinical institutions, industrial parks, and the whole medical supply chain.
“ReLive’s acquisition of Co.Don AG will underpin ReLive’s multiple R&D projects on the universal cell therapies for cartilage treatments. It also marks one of ReLive’s internationalization efforts, as the company aims at building a true global platform for regenerative medicine.”…
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