CBC Group and Hasten Biopharmaceutical Achieve Milestone in Asset Acquisition

CBC Group, a well-known healthcare-focused asset management firm based in Singapore, has recently announced a significant milestone in the asset acquisition journey of its portfolio company, Hasten Biopharmaceutical. Hasten, recognized for its innovative work in the biopharmaceutical sector, has successfully secured the rights to 14 branded products from Celltrion, a leading biopharmaceutical company based in South Korea.

This strategic acquisition, made possible through CBC's unique 'investor-operator' model, is designed to propel Hasten's expansion into international markets and bolster its product pipeline. Under the agreement, Hasten now possesses the Marketing Authorization Holder rights for these 14 products in several countries, including South Korea, Singapore, Thailand, Australia, and China Hong Kong S.A.R.

The addition of these products not only enriches Hasten's portfolio in chronic diseases and critical care segments but also marks a significant step in its business growth across the Pan-Asia region. With renowned products like Edarbi, Basen, Actos, Blopress, and Nesina now part of its offerings, Hasten is set to broaden its product range and market presence.

CEO of CBC Group, Fu Wei, highlighted the importance of this deal in laying a strong foundation for Hasten's global expansion. The collaboration between CBC and Hasten underscores their joint commitment to addressing healthcare needs worldwide by providing high-quality and affordable solutions.

Expressing excitement about the acquisition, Hasten's CEO, Summer Xia, emphasized its role in advancing the company's globalization strategy and expanding its commercial footprint. The partnership with CBC is expected to drive innovation, optimize product portfolios, and enhance research and production capabilities.

This development follows a series of growth initiatives for both CBC and Hasten, including successful fundraising efforts and strategic acquisitions. CBC Group's expertise and diversified approach in the healthcare sector continue to focus on creating enduring value and fostering innovation in the global healthcare landscape.

The acquisition of rights to 14 branded products by Hasten Biopharmaceutical, facilitated by CBC Group, signifies a significant step towards Hasten's international expansion and product diversification. This strategic move not only strengthens Hasten's presence in the biopharmaceutical market but also reflects a commitment to delivering quality healthcare solutions globally. The partnership between CBC and Hasten is poised to drive further innovation and growth, benefiting patients and stakeholders alike.