Amoy Diagnostics Co., Ltd. (AmoyDx) announced on late Wednesday that it planned to purchase 1.51 million preferred stocks of Universal Sequencing Technology Corporation (UST) at 5.30 U.S. dollars per share, totaling 8 million U.S. dollars.
After the acquisition, AmoyDx accounted for 18.986 percent of the total capital shares of UST.
AmoyDx focuses on molecular diagnostics for oncology precision medicine. With completely independent intellectual property rights of ADx-ARMS and Super-ARMS technologies, AmoyDx has a market-leading portfolio of molecular diagnostic kits including but not limited to EGFR, RAS, ALK, BRAF, PIK3CA and ROS1 testing kits, which were firstly approved by CFDA and CE certified.
The capital injection will help strengthen its cooperation with the overseas innovative companies with technological advantages, further improve its industrial layout, expand its business scope, and enhance its core competitiveness and sustainable development, said AmoyDx.
After the acquisition, AmoyDx accounted for 18.986 percent of the total capital shares of UST.
AmoyDx focuses on molecular diagnostics for oncology precision medicine. With completely independent intellectual property rights of ADx-ARMS and Super-ARMS technologies, AmoyDx has a market-leading portfolio of molecular diagnostic kits including but not limited to EGFR, RAS, ALK, BRAF, PIK3CA and ROS1 testing kits, which were firstly approved by CFDA and CE certified.
The capital injection will help strengthen its cooperation with the overseas innovative companies with technological advantages, further improve its industrial layout, expand its business scope, and enhance its core competitiveness and sustainable development, said AmoyDx.
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