AcroMeta subsidiary signs MOUs to develop co-working lab space business in China

Bryan Wu2023-11-17

LSI has entered into a strategic partnership with Fenglin Group, Shanghai Xuhui government's administrative arm for life sciences.AcroMeta Group's 43F 70% owned subsidiary Life Science Incubator ...

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The business model for the group’s co-working laboratory space business is scalable and replicable and therefore eminently suitable for international expansion.”\n“China’s biopharmaceutical industry has undergone a tremendous transformation to become a thriving innovative life sciences hub driven by investments in research and development. The sector is a key focus of the Chinese government’s Made in China 2025 strategy, and we are optimistic about LSI’s long-term growth potential in collaboration with local partners,” he adds.\nLSI has also signed a separate non-binding MOU with three investor parties for the setting up of a joint venture (JV) company to define the structure, ownership and operational aspects of the Fenglin MOU. \nThe expected JV company will have a paid-up capital of at least $3 million, with LSI holding a 51% stake. “The investor parties are all established businessmen with deep connections to China’s medical and life science industries and will contribute their business network, expertise and experience to facilitate the smooth set-up and successful realisation of the Fenglin MOU’s objectives,” says AcroMeta in its press release.\nThe company adds that these MOUs reflect the group’s continued efforts to broaden its revenue stream and capture new regional opportunities.\nShares in AcroMeta closed 0.5 cents or 17.24% up at 3.4 cents on Nov 17.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2384399031"}