CBC Group-backed Hasten Biopharma successfully completes acquisition of five cardiovascular and metabolism drugs from Takeda

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Mar 31, 2022, 03:05 ET

CBC Group continues to expand its global healthcare ecosystem to fulfil unmet medical needs
Hasten fast-tracks transformative medicines for patients in China

SHANGHAI, March 31, 2022 /PRNewswire/ -- Hasten Biopharmaceutic Co., Ltd (China) ("Hasten") today announced that it has acquired a portfolio of five prescription pharmaceutical products sold in China from Takeda Pharmaceutical Company Limited. Hasten is funded by CBC Group ("CBC"), Asia's largest healthcare-dedicated investment firm, Hefei Industry Investment Group, and Feidong County of Hefei City.

Under the terms of the acquisition, Hasten will acquire the Chinese Mainland-exclusive rights of Ebrantil^®, Edarbi^®, Basen^®, Blopress^® and Actos^®. Employees dedicated to the commercial support of these products will be transferred to Hasten, while Takeda will continue to manufacture the portfolio of products and supply them to Hasten.

"Hasten is dedicated to providing life-transforming treatments for patients in China. Acquiring the five innovative medicines gives Hasten a strong portfolio and a talented commercial workforce, taking it one step closer to becoming a leading biopharmaceutical company in China," Annie Lee, Chairman of the Board of Hasten and CBC Managing Director, said. "I look forward to welcoming our new colleagues from Takeda to Hasten and building on our combined expertise to fulfil unmet needs for patients with critical diabetic and heart conditions."

"This acquisition helps us further our purpose of building a best-in-class primary care platform in Asia," Wei Fu, Chief Executive Officer of CBC, said. "CBC has an excellent track record of building next-generation healthcare companies with our unique investor-operator strategy. We look forward to developing further synergy between our portfolio companies in our healthcare ecosystem to bring life-changing treatments to chronic disease patients."

CBC has built a robust global healthcare ecosystem, partnering with top healthcare entrepreneurs and companies to deliver innovative solutions and improve healthcare efficiency and quality since 2014. Its investor-operator strategy has led the group to complete 9 IPOs across its portfolio, with another 12 life sciences and medical technology companies currently under incubation. CBC has also built momentum expanding its geographical footprint in recent years, including by building RVAC Medicines in Singapore, Jadeite Medicines in Japan, and Ensem Therapeutics in the US. CBC will continue to leverage its strong team of investment, industry, and portfolio management professionals to enhance Hasten's value and accelerate its growth.

About CBC

CBC Group, Asia's largest healthcare-dedicated investment firm, is committed to creating value and integrating global resources. Partnering with the world's top entrepreneurs and scientists, its unique investor-operator approach has empowered global leading healthcare companies to widen access to affordable medical care, catalyze innovations, and improve efficiency in fulfilling unmet medical needs worldwide. Founded in 2014, CBC has a leading team of investment, industry and portfolio management professionals headquartered in Singapore with offices in Shanghai, Beijing, Hong Kong and New York, and presences in Boston, San Diego, San Francisco, and Tokyo. CBC focuses on platform-building, buyout, credit and growth-focused opportunities across multiple core areas within the healthcare sector, including pharmaceutical and biotech, medical technology and healthcare services. For more information, please visit www.cbridgecap.com.

About Hasten

Hasten Biopharmaceutic Co., Ltd. (China) is an innovation-driven pharmaceutical company. Adhering to our core values of integrity, agility, innovation, and accountability, we are committed to providing high-quality solutions to serve our key stakeholders, creating an ecosystem to provide better care for patients with chronic diseases, and ultimately achieve the goal of becoming a healthcare industry leader.

SOURCE CBC Group