Wan Tai Biotech Clarifies Business Focus on Diagnostic and Preventive Products

Deep News07-02

Beijing Wantai Biological Pharmacy Enterprise Co.,Ltd. (ASX: 603392) addressed investor inquiries via an interactive platform on July 2nd, stating it has noted the significant progress made by Xiamen University in "developing bispecific antibody ADC drugs based on nanobodies."

To prevent potential conflicts of interest, the company and its major shareholder, NONGFU SPRING (ASX: 09633), have delineated their respective business scopes within the biopharmaceutical sector.

Wan Tai Biotech is dedicated to the research, development, and commercialization of products aimed at disease diagnosis and prevention.

In contrast, NONGFU SPRING focuses on the research, development, and industrialization of products intended for disease treatment.

Consequently, Wan Tai Biotech's business is concentrated in the areas of in-vitro diagnostic reagents and preventive products, while therapeutic innovative drugs fall under the business scope of the NONGFU SPRING group.

The company did not rule out the possibility of discussing the potential integration of therapeutic business segments into the listed entity with NONGFU SPRING at an appropriate time in the future.

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