SHANGHAI, Aug. 16, 2018 /PRNewswire/ -- Shanghai ChemPartner, a leading life science organization providing high-quality and cost-effective drug discovery and development services, announced the closure of the merger deal with Quantum Hi-Tech China Biological.
Quantum, in a press release in 2017, announced their intent to join with Shanghai ChemPartner, a science-drive, technology-based Contract Research and Contract Manufacturing Organization (CRO/CMO) serving the pharmaceutical and biotechnology industry worldwide. The merger and corporate restructuring were also addressed by ChemPartner in a press release in March 2017, and are part of the Company's plans to leverage the capital market in China.
"We are excited to join with Quantum, and together achieve our vision and goals as a public company. This significant milestone was achieved as a result of hard work and rigorous due diligence. The successful outcome and approval of our merger provide confidence in the bright future ahead for ChemPartner, our employees and our clients," stated Michael Hui, Chairman of Shanghai ChemPartner.
Michael Hui will remain the Chairman of the Shanghai ChemPartner, and will serve as the Vice Chairman of the Quantum Board of Directors. The ChemPartner leadership team will remain intact, and the company will continue to operate as a standalone entity.
Shanghai ChemPartner, which includes ChemPartner, China Gateway Pharmaceutical Development, China Gateway Biologics, and ChemExplorer, offers a broad range of drug discovery and development capabilities including biologics discovery, chemistry and medicinal chemistry, biology and pharmacology, DMPK and exploratory toxicology, and small and large molecule CMC. Shanghai ChemPartner serves a diverse global client base and has laboratories, business offices and representatives in the US, Europe, China, and Japan.