AmoyDx to invest in UST

Source:Global Times Published: 2018/5/28 21:28:39

Chinese pharmaceutical company Amoy Diagnostics Co (AmoyDx) is planning to buy 1,509,595 preferred shares of the US-based Universal Sequencing Technology Co (UST) for $8 million. After the deal, AmoyDx will hold about 19 percent of the shares in UST, according to a company statement.

UST is an advanced biotechnology company specializing in research for gene-sequencing platforms. The company is not yet involved in mass production.

AmoyDx said the deal aims to strengthen the company's cooperation with overseas companies possessing cutting-edge technology, thus expanding the company's business, improving its core competence and sustainable development capacity.



Posted in: ECONOMY,COMPANIES

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