Commonwealth Biotechnologies, Inc.. Acquisition of GL Biochem (Shanghai) Ltd: Market Update

RICHMOND, Va.--(BUSINESS WIRE)--Commonwealth Biotechnologies, Inc. (“CBI”) (NASDAQ Capital Market: CBTE) has recently announced a definitive share purchase agreement to acquire Shanghai-based GL Biochem and associated businesses (the “GL Group”), the largest global supplier of research-grade peptide products and peptide reagents. Management is pleased to provide a market update regarding the history, operations and strategy of the GL Group, the industry and marketplace for peptides and peptide reagents, and progress of the merger transaction.