Stock Track | YSB Soars 5.4% on Acquisition of Folding Space for $156 Million

Stock Track10-17

Shares of YSB Inc (09885) surged 5.43% to close at a new high on Tuesday, following the company's announcement of acquiring Folding Space (Cayman) for RMB 1.035 billion ($156 million).

The acquisition is seen as a strategic move for YSB to expand its capabilities in the growing field of computational geometry and protein folding simulation. Folding Space is a leading provider of software for modeling the complex 3D structures of biomolecules like proteins and nucleic acids.

According to the announcement, YSB will pay RMB 784.5 million to Folding Space's founders, investors, and managers, while the remaining consideration will be settled through the issuance of new YSB shares. The acquisition is expected to bolster YSB's bioinformatics and computational biology offerings, potentially opening up new revenue streams in areas like drug discovery, protein engineering, and structural biology research.

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