EX-99.1
2
v121463_ex99-1.htm
Unassociated Document
Exhibit
99.1
Bio-Bridge
Science Completes Acquisition of Xinheng Baide Biotechnology Co. Ltd.
OAK
BROOK, Illinois--Bio-Bridge Science, Inc. (OTCBB:BGES),
a
biotechnology company engaged in the commercial development of vaccines for
the
prevention and treatment of human infectious diseases announced today that
its
wholly-owned subsidiary, Bio-Bridge Science (HK) Co., Ltd. closed the
acquisition of Xinheng Baide Biotechnology Co. Ltd.(the "Seller" or "Xinheng
Baide"), a
serum
manufacturing company organized under the laws of the PRC, pursuant to which
BGES purchased newly issued shares of Seller. BGES now controls 51% of the
outstanding capital stock of the Seller. The total cash purchase price for
the
shares is RMB 6 million (approximately US$ 881,047). Xinheng Baide, located
in
the city of Huhhot in Inner Mongolia of the People's Republic of China,
manufactures and distributes bovine serum and other related products primarily
in China. Bovine serum is used in vaccine production as well as scientific
research. Subsequent to the closing today, audited financials of Xinheng
Baide
will be filed with the Securities and Exchange Commission within the time
frame
stipulated.
"We
are
pleased to see the completion of the acquisition of Xinheng Baide", said Dr.
Liang Qiao, Chairman and CEO of Bio-Bridge Science. "We expect Xinheng Baide to
grow significantly in the future from the synergies of both parties as well
as
the expected increase in the demand for serum in China. Xinheng Baide fits
into
our strategic plan by providing a potential steady, while growing, source
of
revenues to us, as well as providing a new distribution channel for our
products. The acquisition of Xinheng Baide represents our dedication to our
strategic plan and to bringing value to our shareholders".
This
press release contains forward-looking statements. Forward-looking statements
include statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other statements that
are
other than statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and service
demand and acceptance, changes in technology, economic conditions, the impact
of
competition and pricing, government regulation, and other risks defined in
this
document and in statements filed from time to time with the Securities and
Exchange Commission. All such forward-looking statements, whether written
or
oral, and whether made by or on behalf of the company, are expressly qualified
by these cautionary statements and any other cautionary statements which
may
accompany the forward-looking statements. In addition, the company disclaims
any
obligation to update any forward-looking statements to reflect events or
circumstances after the date hereof. Please refer to the Company's SEC filings
for additional information.
Contact:
Bio-Bridge
Science, Inc.
Chris
Young, 630-928-0869
cyoung@bio-bridge-science.com

EX - 99 . 1 2 v121463 _ ex99 - 1 . htm Un associated Document Exhibit 99 . 1 Bio - Bridge Science Completes Acquisition of Xinheng Baide Biotechnology Co . Ltd . OAK BROOK , Illinois -- Bio - Bridge Science , Inc . ( OTCBB : BGES ) , a biotechnology company engaged in the commercial development of vaccines for the prevention and treatment of human infectious diseases announced today that its wholly - owned subsidiary , Bio - Bridge Science ( HK ) Co . , Ltd . closed the acquisition of Xinheng Baide Biotechnology Co . Ltd . ( the " Seller " or " Xinheng Baide " ) , a serum manufacturing company organized under the laws of the PRC , pursuant to which BGES purchased newly issued shares of Seller . BGES now controls 51 % of the outstanding capital stock of the Seller . The total cash purchase price for the shares is RMB 6 million ( approximately US$ 881,047 ) . Xinheng Baide , located in the city of Huhhot in Inner Mongolia of the People ' s Republic of China , manufactures and distributes bovine serum and other related products primarily in China . Bovine serum is used in vaccine production as well as scientific research . Subsequent to the closing today , audited financials of Xinheng Baide will be filed with the Securities and Exchange Commission within the time frame stipulated . " We are pleased to see the completion of the acquisition of Xinheng Baide " , said Dr . Liang Qiao , Chairman and CEO of Bio - Bridge Science . " We expect Xinheng Baide to grow significantly in the future from the synergies of both parties as well as the expected increase in the demand for serum in China . Xinheng Baide fits into our strategic plan by providing a potential steady , while growing , source of revenues to us , as well as providing a new distribution channel for our products . The acquisition of Xinheng Baide represents our dedication to our strategic plan and to bringing value to our shareholders " . This press release contains forward - looking statements . Forward - looking statements include statements concerning plans , objectives , goals , strategies , future events or performance , and underlying assumptions and other statements that are other than statements of historical facts . These statements are subject to uncertainties and risks including , but not limited to , product and service demand and acceptance , changes in technology , economic conditions , the impact of competition and pricing , government regulation , and other risks defined in this document and in statements filed from time to time with the Securities and Exchange Commission . All such forward - looking statements , whether written or oral , and whether made by or on behalf of the company , are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward - looking statements . In addition , the company disclaims any obligation to update any forward - looking statements to reflect events or circumstances after the date hereof . Please refer to the Company 's SEC filings for additional information . Contact : Bio - Bridge Science , Inc . Chris Young , 630 - 928 - 0869 cyoung@bio-bridge-science.com