Addentax Group is in advanced discussion with its company’s Chairman and CEO Hong Zhida to acquire Hong’s partial stake in Shanghai Bao Pharmaceutical, via Shenzhen Grandway Capital. Grandway Capital will act as a fund manager. As of May 2023, Bao Pharma possesses 74 patents. Its Recombinant IdeS Protease has secured Clinical Trial approvals from the United State FDA, China National Medical Products Administration and New Zealand Medicines and Medical Devices Safety Authority in 2022. Other key pipeline products, including Recombinant Human Hyaluronidase and recombinant human Follicle-Stimulating Hormone, have respectively completed Phase III clinical trials. Hong invested in Bao Pharma, via Grandway Capital in 2020.
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