SHANGHAI, June 28, 2024 /PRNewswire/ -- Hasten Biopharmaceutical Co., Ltd. (referred to as "Hasten") announced today that it has successfully acquired the asset rights of 14 branded products across Pan-Asia countries and regions from Celltrion, a Korean biopharmaceutical company. According to the agreement, Hasten will also own the Marketing Authorization Holder (MAH) rights for these products in 8 countries and regions, including South Korea*, Singapore, Thailand, Australia, China Hong Kong S.A.R.. The deal will enrich Hasten's product pipeline across 8 countries and regions outside mainland China, combined with more qualified global supply chain and a quality management system, which will surely pave the way for access to more high-quality products in the Pan-Asia Area.
As an innovative biopharmaceutical company focused on chronic diseases and critical care area, Hasten will boost its product portfolios through this acquisition with commercial rights to treatments in various chronic disease areas such as hypertension and diabetes. These include Edarbi®, Basen®, Actos®, Blopress® and Nesina®, spanning across 8 countries and regions in Pan-Asia. This successful acquisition, facilitated by CBC Group's extensive experience in large-scale cross-border buyouts and platform building, jointly strengthens the development of the global healthcare ecosystem. As the acquisition lays a solid foundation for the company's business expansion in Pan-Asia, Hasten is well positioned to become a leader in the chronic disease ecosystem.
"This acquisition is strategically important to Hasten's continued growth and we're delighted to be part of the company's expansion journey." Fu Wei, CEO of CBC Group stated, "Driven by the dual forces of 'Hasten Speed' and 'Hasten Power', the company is well-positioned to tap into more potentials and benefit more patients. Moving forward, we will continue to leverage our unique 'Investor-Operator' approach to support Hasten in making a collective impact. By joining forces, we aim to build a health ecosystem spanning the Pan-Asia region and beyond, providing high-quality treatments and services to more patients, contributing to the development of the global healthcare industry."
Summer XIA, CEO of Hasten, said, "This acquisition marks a significant step in Hasten's business expansion in Pan-Asia and serves as an important milestone of our globalization trajectory. By expanding a commercial layout spanning multiple regions in Pan-Asia and covering more classic products, we have broadened Hasten's product portfolio while paving the ways for more high-quality products accessing Pan-Asia. This aligns with Hasten's development strategy of 'Pursuing Steady Progress'. We will continue to make full use of our commercialization capability and innovative business models to serve patients in Pan-Asia and even globally with quality products and solutions, so as to create the social health value."
Committed to taking root in China while thinking globally, Hasten is rapidly advancing the expansion of its business footprint across the Pan-Asia region through its "whole industry" and "globalization" strategies, setting the stage for its future growth. Moving forward, the company will continuously introduce innovative products and optimize its product portfolio while enhancing its research and production capabilities. Furthermore, by bolstering international collaborations and leveraging its commercialization advantages with uniquely "Hasten Speed", the company will further contribute to global healthcare industry development and benefit more patients.
*Excluding Nesina®, Edarbi® and Actos®
About Hasten
Hasten Biopharmaceutical Co., Ltd. (Hasten), which integrates R&D, production and commercial promotion and covers the whole industrial chain, was established in 2020. Hasten is jointly invested and established by CBC Group, Hefei Industry Investment Group and Feidong County, Hefei City. In April, 2023, Hasten received a new round of fundraising co-led by CBC and Abu Dhabi sovereign wealth fund, Mubadala Investment Company, with participation from other institutional investors.
For more information on Hasten, please visit www.hastenpharma.com.
About CBC Group
Headquartered in Singapore, CBC Group is Asia's largest healthcare-dedicated asset management firm, with an AUM of over US$8 billion. With a diversified, multi-product strategy, CBC Group is focused on platform-building, buyout, private credit, venture, and real estate, across the healthcare space, including pharmaceutical, biotech, medical technology, and healthcare services.
Founded in 2014, CBC Group is committed to creating lasting value by integrating global innovations and talents. Partnering with the world's top entrepreneurs and scientists, our unique "investor-operator" approach has empowered leading healthcare companies to widen access to affordable medical care, catalyse innovations, and improve efficiency in fulfilling unmet medical needs worldwide.
For more information on CBC Group, please visit www.cbridgecap.com.
source: Hasten Biopharmaceutical Co., Ltd.
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