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The Commonwealth Biotechnologies, Inc. (CBTE)-GL Biochem (Shanghai) Ltd Acquisition: Market Update and Transaction Progress


3/26/2010 11:33:37 AM

RICHMOND, Va.--(BUSINESS WIRE)--Commonwealth Biotechnologies, Inc. (“CBI”) (CBTE.OB) is pleased to provide this market update about its planned acquisition of Shanghai-based GL-Biochem and its associated businesses (collectively the “GL Group”), one of the largest global suppliers of research-grade peptide products and peptide reagents. On completion of the transaction, CBI believes it will be the largest supplier of pre-clinical peptide reagents and custom peptide synthesis services in the world. The Company will be comprised of (i) the GL Group in China, (ii) Mimotopes Pty Ltd in Australia and (iii) assets in Richmond, Virginia. In addition to the GL Group, CBI will continue to own and operate Mimotopes Pty Ltd, based in Melbourne, Australia, an industry leader in the peptide and discovery chemistry sector.

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