Sino Biological Inc., a biotech company which provides biological research reagents and technical contract research services, announced a successful listing on the Shenzhen Stock Exchange subsidiary ChiNext under the abbreviation Sino Biological and code 301047.
A total of 17 million shares were issued for a total of 4.98 billion RMB raised during this initial public offering. Sino Biological’s successful listing on the capital market is an important milestone in its strategic plan for growth.
Sino Biological’s business model and portfolio
While justifying its current business model and portfolio, this offering also conveys a new starting point for the company’s future growth and development, providing the financial backing for broad and rapid expansion of Sino Biological’s existing capabilities.
Dr. Liangzhi Xie, Chairman of Sino Biological said, “Sino Biological will now be able to further enhance its strength in as one of the world’s leading providers of research reagents and services, while simultaneously improving its competitiveness and profitability.”
“These endeavors will bring multiple benefits to investors such as increased shareholder value while positively impacting the health and well-being of society.”
As a high-tech enterprise, Sino Biological specializes in the research, development, production and sales of biological reagents such as recombinant proteins, antibodies, genes and media.
The company also provides related technical contract research services, including the development of recombinant proteins and antibodies as well as biological analysis and testing.
With a number of advanced core technologies, Sino Biological has established a complete technology platform covering research, development, scale-up production, and quality control so as to guarantee the high-throughput and efficient generation of biological reagents.
Benefits of Sino Biological’s listing on ChiNext
The company’s offering helps to drive advances in the understanding of such fields as molecular biology, cell biology, immunology, developmental and stem cell biology and promotes the research and development of innovative drugs and diagnostic tests.
Sino Biological will broaden efforts in the innovation, expansion and optimization of existing product and service lines through internal development and acquisition of key technologies coupled with aggressive infrastructure growth, to enhance core competitiveness and drive towards fulfilling Sino Biological’s mission to advance life science and improve human health.
Forward-Looking Statements Certain statements in this document are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act.
These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Sino Biological assumes no obligation to update these forward-looking statements and do not intend to do so.
More information is contained in Sino Biological’s filings with the Shenzhen Stock Exchange.