The deal leverages CBC's hands-on
"investor-operator" approach to accelerate portfolio companies'
asset acquisition and strategic international expansion
SINGAPORE, June 30,
2024 /PRNewswire/ -- CBC Group ("CBC"), Asia's largest healthcare-dedicated asset
management firm headquartered in Singapore, announced that its controlled
portfolio company, Hasten Biopharmaceutical ("Hasten"), an
innovation-driven biopharmaceutical company, has successfully
acquired the asset rights of 14 branded products across Pan-Asia
countries and regions from Celltrion, a South Korean
biopharmaceutical company. The successful acquisition draws upon
CBC's unique "investor-operator" model which combines innovation,
vast industry experience and commercial expertise, to support
leading healthcare companies such as Hasten as they source
attractive assets and expand across borders.
According to the agreement, Hasten will own the Marketing
Authorization Holder (MAH) rights for these 14 products in eight
countries and regions, including South
Korea*, Singapore,
Thailand, Australia and China Hong Kong S.A.R. The deal
not only enriches Hasten's product pipeline and supply chain system
but also marks its business expansion across Pan-Asia region. As an
innovative biopharmaceutical company focused on chronic diseases
and critical care area, Hasten will expand its product portfolios
through this acquisition, with the commercial rights to drugs in
various chronic diseases areas such as hypertension and diabetes,
including Edarbi®, Basen®, Actos®,
Blopress®, and Nesina®.
Fu Wei, CEO of CBC Group remarked, "This strategic
deal lays a solid foundation for Hasten's global expansion,
facilitated by CBC Group's deep experience in large-scale
cross-border buyouts and platform building. Our distinct active
approach has seen a strong history of success as we work closely
with healthcare companies to grow their platforms across stages and
accelerate their expansion internationally while retaining a sharp
focus on unlocking synergies and joint value for companies and
investors alike. This milestone for Hasten underscores our
commitment towards building a resilient global health ecosystem, as
we continue to deliver much-needed healthcare solutions across
Pan-Asia and beyond."
Summer Xia, CEO of Hasten
said, "This successful acquisition marks an important step
as we expand our business across Pan-Asia and progress towards our
globalization trajectory. We are pleased to be partnering with CBC,
as this deal provides us the opportunity to expand our regional
commercial platform, broaden our product portfolio with the
coverage of more classic products, while paving the way to go
overseas with more high-quality products, in alignment with our
development strategy. Beyond CBC's deep experience in buyouts and
proven approach in growing leading healthcare platforms, we share a
similar vision of addressing unmet medical needs across communities
globally by bringing to market greater quality and affordable
products. Going forward, we will continue to introduce innovative
products, leverage our commercialization capabilities and optimize
our product portfolio while enhancing research and production
capabilities."
This latest move follows a series of key growth developments for
CBC and Hasten. In 2023, CBC co-led a US$315
million fundraising round for Hasten, to support strategic
acquisitions and business development of innovative pipeline
assets. In the same year, Hasten acquired the commercial rights in
Mainland China for Rocephin®, a long-acting, broad spectrum
cephalosporin antibiotic, from Roche, delivering strong synergy
within the portfolio and supporting the enhancement of patient care
and outcomes.
*Excluding Edarbi®,
Actos®, and
Nesina®
About CBC Group
Headquartered in Singapore, CBC Group is Asia's largest healthcare-dedicated asset
management firm, with an AUM of US$8.8
billion. With a diversified, multi-product strategy, CBC
Group is focused on platform-building, buyout, private credit and
royalties, and real estate, across the healthcare space, including
pharmaceutical, biotech, medical technology, and healthcare
services.
We are 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
efficiencies in fulfilling unmet medical needs worldwide.
For more information on CBC Group, please visit
www.cbridgecap.com/.
Connect with us on LinkedIn (CBC Group).
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.
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SOURCE CBC Group