ReLive Biotechnologies, Ltd. Completes Asset Purchase of Co.Don AG and Series A Financing Led By SHC, Furthering its Ambition to Become the Global Leader in Regenerative Therapies
Summary
NANJING, China, Jan. 25, 2023 /PRNewswire/ -- As the tissue engineering and regenerative medicine industry has shown tremendous potential in clinical practices in recent years worldwide, Chinas blue ocean market welcomes the first wave of acquisitions.ReLive Biotechnologies, Ltd. ("ReLive" or "Company", a leading industry player, announces it has completed the acquisition of all operating assets of Germany-listed biotech company Co.Don AG (CNW.DF) ("Acquisition"), taking over the global patent rights of its flagship products "Spherox" and "Chondrosphere". Founded by Dr. Zhao in 2021, the Company aims to fulfill the clinical unmet needs in the regenerative treatment market globally as it develops pioneering products in the areas of orthopedic sports medicine and reconstructive surgery. SHCs partnership with Hong Kong Science and Technology Parks Corporation (HKSTP) and Shanghai Pharmaceuticals Holding (SPH) will further help SHC to synergize the on-shore and off-shore assets to build a global investment ecosystem. ReLive is also preparing for similar submission to the US FDA.ReLives ambition is backed by a team of top scholars and industry practitioners.The Companys founder Dr. Zhao is a seasoned scientist who completed his Ph.D. and post-doc in Regenerative Medicine at the Utrecht University and Harvard Medical School. It will focus on the cross-disciplinary collaboration of the most advanced cell and gene therapies and novel scaffold materials in the application in Orthopedics including treatments of articular hyaline cartilage, osteochondral and meniscus, and in the area of plastic and cosmetic surgery such as ear reconstructions.The US$36 million fund as a vital addition will also stimulate the companys global expansion.Dr.