Sino Biological, Inc. (Sino Biological or the Company), a biotechnology firm coted on ChiNext, a Shenzhen stock exchange subsidiary (SZSE: 301047), which provides biological research reagents and technical contract research services, is pleased to announce the formation of two new operationally focused subsidiaries in China.
On September 13, 2021, the Board of Directors of Sino Biological reviewed and approved a proposal to establish a totally owned subsidiary in the park. The company will benefit from a combined investment of RMB 150 million yuan ($4,710,000 USD) and rental expenses. This new subsidiary will focus primarily on the development and production of biological substances, including cell culture medium, proteins, and antibody diagnostic methods.
Sino Biological and the Suzhou New District have signed a "Project Investment Agreement" on November 23, 2021, and the Center for Research and Development for Cells will establish a new laboratory which focuses on cell quality as well as biosafety of biological products. The first phase of this project will include an investment of over 50 million yuan ($7,850,000 USD) with the Suzhou New District providing rental expenses and various tax incentives. In addition, the District will subsidize the costs of equipment, industry development and
During the official signing ceremony, Dr. Jie Zhang, the director of Sino Biological, stressed that through the establishment of additional research and manufacturing facilities, Sino Biological would continue to grow its capabilities and capabilities, as a leading provider of bioreagents and CRO services worldwide.
Sino Biological''s geographical footprint has been further strengthened by the addition of these subsidiaries in Taizhou and Suzhou. These new locations in Beijing, Shanghai, Frankfurt, Philadelphia, and Houston have boosted the company''s ability to utilize Sino Biologicals'' cutting-edge technologies and a broad spectrum of services, according to Dr. Rob Burgess, Sino''s Chief Business Officer.