Cosunter Pharmaceutical's 11.5 Million RMB Sale of Its Subsidiary

According to Sina News, because of Ajian Gene Technology had a large initial investment, long return period and loss of performance. Cosunter Pharmaceutical transferred 100% of the subsidiary to Fujian Effort Group for 11.5 million yuan. So Cosunter Pharmaceutical can focus on their drug development.

Founded on October 10, 2017, Ajian Gene Technology is a special platform for Cosunter Pharmaceutical in the field of reproductive science, specializing in preimplantation genetic diagnosis and embryology.

Since Ajian Gene Technology has not carried out specific business operations since its establishment, and the high cost of upfront expenses and cost, Ajian Gene Technology has lost 37.49% of its net worth. After Cosunter Pharmaceutical and Fujian Effort Group agreed, the transfer price was set for 11.5 million RMB.

Cosunter Pharmaceutical believes that the transfer will help to promote the company's new drugs research and development, and further improve the company's future financial situation.