IVD China last week: Mindray, Wantai, Orient Gene and Sino Biopharm

Mindary Q3 Report: Operating Income Reaches ¥29.48 Billion

Mindary has released its Q3 2024 results, revealing strong performance in the first three quarters of the year. The company achieved an operating income of ¥29.485 billion, reflecting a 7.99% year-on-year increase. Net profit attributable to shareholders was ¥10.637 billion, up 8.16% compared to the previous year.

In Q3 alone, Mindary reported an operating income of ¥8.954 billion, a 1.43% increase year-on-year. However, net profit attributable to shareholders decreased by 9.31% to ¥3.076 billion.

Wantai BioPharm: Approval of P85-Ab Nasopharyngeal Cancer Diagnostic Kit

The National Medical Products Administration has approved the BNLF2b antibody detection kit (P85-Ab), developed by Xiamen University in collaboration with Wantai BioPharm. This kit is the first serological biomarker for nasopharyngeal cancer, significantly enhancing sensitivity, specificity, and positive predictive value for screening. It represents a groundbreaking advancement in traditional diagnostic methods, with research results published in the New England Journal of Medicine and widely recognized in the industry.

Orient Gene and Zhangjiang Group Sign ¥1.5 Billion Investment Agreement

Zhejiang Orient Gene Biotech Co., Ltd announced that its wholly-owned subsidiary, as the construction body of ‘Oriental Gene Global Digital R&D and Innovation Headquarters Project’, signed the ‘Investment Intention Agreement of Lot E13-02 of Zhangjiang Private Enterprises Headquarters Cluster of Oriental Gene Global Digital R&D and Innovation Headquarters Project’ with Zhangjiang Group. The total investment of this project is planned to be RMB 1.5 billion, of which RMB 1.2 billion will be invested in fixed assets and RMB 300 million in supporting working capital.

The project plans to establish a global innovation headquarters for digital precision medicine, and to build a strategic centre, operation centre, management centre and R&D centre for Orient Gene.

Sino Biopharm Acquires HOB Biotech Group

HOB Biotech Group, listed on the Science and Technology Creation Board (STB), announced a proposed change of control. Concurrently, Hong Kong-listed Sino Biopharm disclosed its intention to acquire HOB Biotech.

Under the agreement, Sino Biopharm plans to acquire HOB using an “agreement transfer + partial offer” approach, with a purchase price of ¥33.74 per share, totaling ¥630 million. Upon completion of the acquisition, Sino Biopharm will hold 55% of HOB's shares, thereby gaining control of the company.