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Bio-Bridge Science, Inc. Completes Acquisition of Xinheng Baide Biotechnology Co. Ltd.


7/31/2008 9:33:57 AM

OAK BROOK, Ill.--(BUSINESS WIRE)--Bio-Bridge Science, Inc. (OTCBB:BGES), a biotechnology company engaged in the commercial development of vaccines for the prevention and treatment of human infectious diseases announced today that its wholly-owned subsidiary, Bio-Bridge Science (HK) Co., Ltd. closed the acquisition of Xinheng Baide Biotechnology Co. Ltd.(the “Seller” or “Xinheng Baide”), a serum manufacturing company organized under the laws of the PRC, pursuant to which BGES purchased newly issued shares of Seller. BGES now controls 51% of the outstanding capital stock of the Seller. The total cash purchase price for the shares is RMB 6 million (approximately US$ 881,047). Xinheng Baide, located in the city of Huhhot in Inner Mongolia of the People’s Republic of China, manufactures and distributes bovine serum and other related products primarily in China. Bovine serum is used in vaccine production as well as scientific research. Subsequent to the closing today, audited financials of Xinheng Baide will be filed with the Securities and Exchange Commission within the time frame stipulated.

Read at BioSpace.com


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