Hainan Haiyao Pays $10 Million for SinoMab BioScience Ltd. Stake

by Richard Daverman, PhD

January 31, 2013 -- Hainan Haiyao Co. will pay $9.9 million for a 40% stake in SinoMab Bioscience Limited, a company that is headquartered in Hong Kong with offices and manufacturing facilities in Shenzhen. When the purchase is completed, Haiyao will be SinoMab’s largest shareholder. SinoMab was founded in 2001 and is seeking to discover therapeutic antibodies that treat life-threatening and debilitating diseases. More details...