The deal leverages CBC's hands-on "investor-operator" approach to accelerate portfolio companies' asset acquisition and strategic international expansion

SINGAPORE, July 1, 2024 /PRNewswire/ -- CBC Group ("CBC"), Asia's largest healthcare-dedicated asset management firm headquartered in Singapore, announced that its controlled portfolio company, Hasten Biopharmaceutical ("Hasten"), an innovation-driven biopharmaceutical company, has successfully acquired the asset rights of 14 branded products across Pan-Asia countries and regions from Celltrion, a South Korean biopharmaceutical company. The successful acquisition draws upon CBC's unique "investor-operator" model which combines innovation, vast industry experience and commercial expertise, to support leading healthcare companies such as Hasten as they source attractive assets and expand across borders.

According to the agreement, Hasten will own the Marketing Authorization Holder (MAH) rights for these 14 products in eight countries and regions, including South Korea*, Singapore, Thailand, Australia and China Hong Kong S.A.R. The deal not only enriches Hasten's product pipeline and supply chain system but also marks its business expansion across Pan-Asia region. As an innovative biopharmaceutical company focused on chronic diseases and critical care area, Hasten will expand its product portfolios through this acquisition, with the commercial rights to drugs in various chronic diseases areas such as hypertension and diabetes, including Edarbi^®, Basen^®, Actos^®, Blopress^®, and Nesina^®.

Fu Wei, CEO of CBC Group remarked, "This strategic deal lays a solid foundation for Hasten's global expansion, facilitated by CBC Group's deep experience in large-scale cross-border buyouts and platform building. Our distinct active approach has seen a strong history of success as we work closely with healthcare companies to grow their platforms across stages and accelerate their expansion internationally while retaining a sharp focus on unlocking synergies and joint value for companies and investors alike. This milestone for Hasten underscores our commitment towards building a resilient global health ecosystem, as we continue to deliver much-needed healthcare solutions across Pan-Asia and beyond."

Summer Xia, CEO of Hasten said, "This successful acquisition marks an important step as we expand our business across Pan-Asia and progress towards our globalization trajectory. We are pleased to be partnering with CBC, as this deal provides us the opportunity to expand our regional commercial platform, broaden our product portfolio with the coverage of more classic products, while paving the way to go overseas with more high-quality products, in alignment with our development strategy. Beyond CBC's deep experience in buyouts and proven approach in growing leading healthcare platforms, we share a similar vision of addressing unmet medical needs across communities globally by bringing to market greater quality and affordable products. Going forward, we will continue to introduce innovative products, leverage our commercialization capabilities and optimize our product portfolio while enhancing research and production capabilities."