Fosun Pharma Buys $22.4 Million of Saladax Biomedical Inc. (SBI) Stock

Published: Mar 05, 2013

by Richard Daverman, PhD

March 4, 2013 -- Shanghai Fosun Pharma has agreed to buy $22.4 million of Series D preferred shares in Saladax Biomedical, a US maker of diagnostic assays. Also, Fosun will have the right to distribute Saladax products in mainland China. Saladax produces the MyCare™ family of oncology assays, which allows doctors to optimize dosing of specific medicines despite individual differences in absorption and clearance. Using the tests, a physician can obtain the blood concentration of the drug that combines a high therapeutic result with minimal side effects. More details....

Stock Symbols:(SHA: 600196; HK: 02196)

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