August 9, 2011 -- Mingyuan Medicare Development, a Hong Kong company that operates in the PRC, has agreed to buy a 70% stake in 18-month-old Shanghai Yuanqi for 354 million RMB ($55 million). Both companies provide cancer screening kits to the PRC. Shanghai Yuanqi has developed molecular diagnostic kits for leukemia, lymphoma, and individualized cancer therapy. Minyuan’s best selling product is its C-12 protein chip, which tests blood samples for 12 tumor markers that detect 12 types of cancer. More details....
Stock Symbol: (HK: 00233)
