Venturepharm Laboratories Becomes a Strategic Investor and Joint Venture Partner of Commonwealth Biotechnologies, Inc.

RICHMOND, Va.--(BUSINESS WIRE)--Commonwealth Biotechnologies, Inc. (“CBI”) (NASDAQ Capital Market:CBTE) is pleased to announce that Venturepharm Laboratories Ltd (“VPL”) (HKEX: 8225.HK) has become a cornerstone investor through the purchase of 2.15M shares from PharmAust Ltd, which represents 39% of CBI’s issued share capital. Concurrent with VPL’s investment in CBI, the two companies have established a joint venture (“Venturepharm Asia”) for CBI to leverage Venturepharm’s extensive clinical research capabilities in China in order to provide a comprehensive suite of outsourcing services to the global pharmaceutical outsourcing industry.