On March 31, 2022 Hasten Biopharmaceutic Co., Ltd (China) ("Hasten") reported that it has acquired a portfolio of five prescription pharmaceutical products sold in China from Takeda Pharmaceutical Company Limited (Press release, Takeda, MAR 31, 2022, View Source [SID1234611388]). Hasten is funded by CBC Group ("CBC"), Asia’s largest healthcare-dedicated investment firm, Hefei Industry Investment Group, and Feidong County of Hefei City.
Under the terms of the acquisition, Hasten will acquire the Chinese Mainland-exclusive rights of Ebrantil, Edarbi, Basen, Blopress and Actos. Employees dedicated to the commercial support of these products will be transferred to Hasten, while Takeda will continue to manufacture the portfolio of products and supply them to Hasten.
"Hasten is dedicated to providing life-transforming treatments for patients in China. Acquiring the five innovative medicines gives Hasten a strong portfolio and a talented commercial workforce, taking it one step closer to becoming a leading biopharmaceutical company in China," Annie Lee, Chairman of the Board of Hasten and CBC Managing Director, said. "I look forward to welcoming our new colleagues from Takeda to Hasten and building on our combined expertise to fulfil unmet needs for patients with critical diabetic and heart conditions."
"This acquisition helps us further our purpose of building a best-in-class primary care platform in Asia," Wei Fu, Chief Executive Officer of CBC, said. "CBC has an excellent track record of building next-generation healthcare companies with our unique investor-operator strategy. We look forward to developing further synergy between our portfolio companies in our healthcare ecosystem to bring life-changing treatments to chronic disease patients."
CBC has built a robust global healthcare ecosystem, partnering with top healthcare entrepreneurs and companies to deliver innovative solutions and improve healthcare efficiency and quality since 2014. Its investor-operator strategy has led the group to complete 9 IPOs across its portfolio, with another 12 life sciences and medical technology companies currently under incubation. CBC has also built momentum expanding its geographical footprint in recent years, including by building RVAC Medicines in Singapore, Jadeite Medicines in Japan, and Ensem Therapeutics in the US. CBC will continue to leverage its strong team of investment, industry, and portfolio management professionals to enhance Hasten’s value and accelerate its growth.