BEIJING, April 23, 2025 (GLOBE NEWSWIRE) -- Shineco, Inc. ("Shineco" or the "Company"; NASDAQ: SISI), a provider of innovative diagnostic medical products and related medical devices, announced today that on April 22, 2025, its subsidiary, Shineco Life Sciences Group Hong Kong Limited ("Shineco Life Sciences"), entered into a Share Purchase Agreement (the "SPA") with Dr. Lim Kah Meng (the "Seller") to acquire 51% of the equity interest in InfiniClone Limited, a company incorporated under the laws of Hong Kong that has been wholly owned held by Dr. Lim ("InfiniClone"). InfiniClone is a biotechnology company focusing on the field of regenerative medicine. Its main business covers a variety of fields, from basic research to commercial applications, with a focus on induced pluripotent stem cell technology, regenerative medicine applications and the development of cosmeceuticals.
Pursuant to the SPA, Shineco Life Sciences will acquire a 51% equity interest in InfiniClone. In consideration of the acquisition, Shineco Life Science shall pay the Seller $19,895,600 in cash and the Company shall issue and transfer 3,450,000 shares of the Company’s common stock to the Seller, subject to the terms and conditions set forth in the SPA.
InfiniClone has 29 global patents, including five invention patents, that cover major markets such as the US, Europe (the UK, Germany, France and Switzerland), and Asia (Japan, China and Singapore), which it believes gives it a competitive advantage in the field of stem cell technology. Its core technologies include cell reprogramming technology, stem cell culture based on microcarrier technology, and the establishment and management of induced pluripotent stem cells (iPSC) libraries, which it believes can increase the throughput of cell expansion by three to ten times that of existing technologies. While traditional stem cell cultures rely on expensive manual operations and consumables, InfiniClone believes its technology has the potential to significantly reduce labor and material inputs, reducing the production cost per cell by more than 60% and establishing a foundation for large-scale clinical applications. For example, in treating Parkinson's, Alzheimer’s and stroke, traditional methods require months to grow a sufficient number of functional neurons, while InfiniClone’s technology is expected to shorten this cycle to just a few weeks, substantially reducing the time for patients to receive treatment.
InfiniClone's founder, Dr. Lim Kah Meng, is a Doctor of Biomedical Sciences from the National University of Singapore and is a Singaporean scientist, entrepreneur and biomedical expert with over 20 years of molecular research experience in stem cell research, regenerative medicine and neuro medicine therapies. In addition, Dr. Lim is the founder of a number of biotechnology companies, including Gene Oasis PTE. LTD., Zenzic Oasis PTE. LTD., BetaLife PTE. LTD. and CanniOasis PTE. LTD. with these companies having a differentiated focus on cell therapy, stem cell production and personalized medicine.
Jennifer Zhan, the CEO of Shineco, commented, "The acquisition of a majority position of InfiniClone is a key milestone for Shineco as it launches our entry into the field of stem cell technology and regenerative medicine. InfiniClone’s unique technology, global patent protection and Dr. Lim's professional capabilities represent core competitiveness in a high-value-added medical space, and we believe that Shineco can accelerate the transformation process of InfiniClone’s technology from laboratory to clinic. We look forward to working together with InfiniClone to solve the treatment problems of Parkinson's, Alzheimer’s, stroke, and other major diseases, and provide innovative solutions for patients around the world.”
More complete information of the SPA is set forth in the Form 8-K and its exhibits filed with the Securities and Exchange Commission on April 23, 2025.
About Shineco Corporation
Shineco Inc. ("Shineco" or the "Company") aims to "focus on healthy living and improve the quality of life" by providing safe, efficient and high-quality health and medical products and services to society. Shineco, operating through subsidiaries, has researched and developed 33 kinds of in vitro diagnostic reagents and related medical devices to date, and the Company also produces and sells healthy and nutritious foods. For more information about Shineco, please visit www.biosisi.com/.
Forward-Looking Statements
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