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Global Cord Blood Corporation Announces Entry Into Cell Therapy Market By Acquiring Cellenkos And Its Products Rights

Global Cord Blood Corporation Announces Entry Into Cell Therapy Market By Acquiring Cellenkos And Its Products Rights

04/29/22, 8:17 PM
Industry
sales and marketing
Global Cord Blood Corporation (NYSE: CO, "GCBC" or the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services, announced today that the Company will acquire 100% of Cellenkos, Inc ("CLNK") and the rights to develop and commercialize all of its existing and future products worldwide except those related to CLNK's existing collaboration with Incyte Corporation (Nasdaq: INCY, "Incyte"). As of the date hereof, the Company has entered into agreements with the holders of approximately 95% of CLNK outstanding equity interest and GM Precision Medicine (BVI) Limited ("GMPM"). Following the entry into an agreement at substantially the same terms with the remaining 5% holder, at closing, the Company will issue approximately 125 million new shares (on an as-converted and fully diluted basis) valued at US$11 per share and pay US$664 million in cash as total consideration.

Company Info

Company
Global Cord Blood Corporation
Company info
Global Cord Blood Corporation is an umbilical cord blood banking operator serving multiple regions in China. Global Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services. For more information, please visit the Company's website at: http://www.globalcordbloodcorp.com.