Hasten announces the acquisition of 14 legacy Celltrion products, accelerating business expansion across Asia

SHANGHAI, June 28, 2024 /PRNewswire/ — Hasten Biopharmaceutical Co., Ltd. (“Hasten”) announced today that it has successfully acquired the rights to 14 branded products in Asian countries and regions from Celltrion. Korean biopharmaceutical company. Under the agreement, Hasten will also hold the rights of the Marketing Authorization Holder (MAH) for these products in 8 countries and regions, including South Korea^*Singapore, Thailand, Australia, China Hong Kong SAR. The agreement will expand Hasten’s product portfolio in 8 countries and regions outside mainland China, combined with a more qualified global supply chain and quality management system, which will certainly pave the way for access to more high-quality products in the Pan-Asia region.

As an innovative biopharmaceutical company focused on chronic disease and critical care, Hasten will expand its product portfolio through this acquisition with commercial rights for the treatment of various chronic diseases, such as hypertension and diabetes. These include Edarbi^®Swimming pool^®Actos^®Blopress^® and Nesina^®covering 8 countries and regions in Pan-Asia. This successful acquisition, facilitated by CBC Group’s extensive experience in large cross-border buyouts and platform building, jointly strengthens the development of the global healthcare ecosystem. As the acquisition provides a solid foundation for the company’s business expansion in Pan-Asia, Hasten is well-positioned to become a leader in the chronic disease ecosystem.

“This acquisition is strategically important for Hasten’s continued growth and we are delighted to be part of the company’s expansion.” Fu Wei, CEO of CBC Group, said: “Driven by the twin forces of “Hasten Speed” and “Hasten Power”, the company is well positioned to realize greater potential and benefit more patients. Going forward, we will continue to leverage our unique Investor-Operator approach to support Hasten in driving collective impact. By joining forces, we aim to build a healthcare ecosystem spanning the Pan-Asia region and beyond, providing high-quality treatment and services to more patients, contributing to the development of the global healthcare sector.”

Summer XIA, CEO of Hasten, said: “This acquisition represents a significant step in Hasten’s business expansion in Asia and marks an important milestone in our globalization trajectory. By expanding our trade arrangement across multiple regions in Asia to include more classic products, we have expanded Hasten’s product portfolio while paving the way for more high-quality products available in Asia. This is in line with Hasten’s development strategy “Striving for Continuous Progress”. We will continue to fully leverage our commercialization capabilities and innovative business models that enable patients in Asia, and indeed around the world, to deliver high-quality products and solutions to create social health value.”

Determined to root in China with a global mindset, Hasten is rapidly expanding its business footprint in the Pan-Asia region through its “whole industry” and “globalization” strategies, setting the stage for its future growth. In the future, the company will continuously introduce innovative products and optimize its product portfolio while enhancing its research and production capabilities. Moreover, by strengthening international cooperation and leveraging its commercialization advantages with the unique “Hasten speed”, the company will further contribute to the development of the global healthcare industry and benefit more patients.

*Except Nesina^®Edarbi^® and Actos^®

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 an investment and jointly established by CBC Group, Hefei Industry Investment Group and Feidong County in Hefei City. In April 2023, Hasten received a new round of fundraising co-led by sovereign wealth fund CBC and Abu Dhabi Mubadala Investment Company, with participation from other institutional investors.

For more information about Hasten, visit www.hastenpharma.com.

About the CBC Group

Singapore-headquartered CBC Group is Asia’s largest healthcare-focused asset management firm, with assets worth over $8 billion. With a diversified, multi-product strategy, CBC Group focuses on platform building, buyouts, private lending, ventures and real estate across the healthcare space, including pharmaceuticals, biotechnology, medical technology and healthcare services.

Founded in 2014, CBC Group is committed to creating lasting value by integrating global innovation and talent. By collaborating with the world’s leading 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.

For more information about CBC Group, please visit www.cbridgecap.com.