CBC-backed Hasten Biopharmaceutical Announces Acquisition of 14 Celltrion Legacy Products

The transaction leverages CBC’s hands-on investor-operator approach to accelerate portfolio company asset acquisitions and strategic international expansion

SINGAPORE, July 1, 2024 /PRNewswire/ — CBC Group (“CBC”), Asia’s largest healthcare asset manager headquartered in Singapore, announced that its controlled portfolio company Hasten Biopharmaceutical (“Hasten”), an innovative biopharmaceutical company, has successfully acquired the rights to 14 branded product assets in countries and regions across Pan-Asia from Celltrion, a South Korean biopharmaceutical company. The successful acquisition is based on CBC’s unique “investor-operator” model, which combines innovation, deep industry experience and commercial expertise to support leading healthcare companies like Hasten in acquiring attractive assets and expanding abroad.

Under the agreement, Hasten will hold the Marketing Authorization (MAH) rights for these 14 products in eight countries and regions, including South Korea*, Singapore, Thailand, Australia and China, Hong Kong SAR. The agreement not only enhances Hasten’s product portfolio and supply chain system, but also marks business expansion in the Asia-Pacific region. As an innovative biopharmaceutical company focused on chronic diseases and critical care, Hasten will expand its product portfolio with this acquisition, with commercial rights for drugs in various chronic disease areas such as hypertension and diabetes, including Edarbi^®Swimming pool^®Actos^®Blopress^®and Nesina^®.

Fu Wei, CEO of CBC Group, noted: “This strategic transaction provides a solid foundation for Hasten’s global expansion, facilitated by CBC Group’s deep experience in large-scale cross-border acquisitions and platform building. Our distinctive proactive approach has a long history of success as we work closely with healthcare companies to advance their platforms across stages and accelerate their international expansion, while focusing on unlocking synergies and shared value for both companies and investors. This milestone for Hasten underscores our commitment to building a resilient global healthcare ecosystem as we continue to provide much-needed services. healthcare solutions across Asia and beyond.”

Summer Xia, CEO of Hasten, said: “This successful acquisition marks an important step in expanding our business across Asia and progressing towards our globalization. We are excited about the partnership with CBC as this agreement gives us the opportunity to expand our regional trading platform, expand our product portfolio with more classic products, and at the same time paves the way to go abroad with more high-quality products, in line with our growth strategy. In addition to CBC’s extensive experience in buyouts and proven approach to developing leading healthcare platforms, we share a similar vision of meeting unmet medical needs in communities around the world by bringing higher quality and affordable products to market. Going forward, we will continue to introduce innovative products, leverage our commercialization opportunities and optimize our product portfolio, while expanding research and manufacturing capabilities.”

This latest move follows a series of key growth events for CBC and Hasten. In 2023, CBC co-led a $315 million fundraising round for Hasten to support strategic acquisitions and business development of innovative assets in the pipeline. In the same year, Hasten acquired the commercial rights in mainland China for Rocephin®, a long-acting, broad-spectrum cephalosporin antibiotic, from Roche, providing strong synergies across the portfolio and supporting improvements in patient care and outcomes.

*Excludes Edarbi®, Actos® and Nesina®

About the CBC Group

Headquartered in Singapore, CBC Group is Asia’s largest healthcare asset manager, with $8.8 billion in assets under management. With a diversified, multi-product strategy, CBC Group focuses on platform building, buyouts, private lending and royalties, and real estate in the healthcare sector, including pharmaceuticals, biotechnology, medical technology and healthcare services.

We are committed to creating lasting value by integrating global innovation and talent. Working with the world’s best entrepreneurs and scientists, our unique investor-operator approach has enabled leading healthcare companies to expand access to affordable health care, catalyze innovation and improve efficiency in meeting unmet medical needs around the world.

More information about CBC Group can be found at www.cbridgecap.com/.

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About Hasten

Hasten Biopharmaceutical Co., Ltd. (Hasten), which integrates R&D, production and trade promotion and covers the entire industrial chain, was founded in 2020. Hasten is jointly invested and founded 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’s national wealth fund, Mubadala Investment Company, with participation from other institutional investors.