Shineco Signs Agreement With Plus Me; Shares Rise Pre-Bell

MT Newswires Live08-20

Shineco (SISI) said Wednesday it has executed a cellular asset on-chaining and marketing cooperation agreement with blockchain infrastructure provider Plus Me.

Shares of the company rose more than 26% in pre-bell Wednesday activity.

Financial terms of the deal were not disclosed.

Under the terms of the agreement, Plus ME will deploy digital custody of Shineco's mesenchymal stem cells on the Ethereum network, allowing smart contracts to secure asset ownership rights using non-fungible digital identifiers for each cellular asset.

As part of the initiative, Shineco said it has secured a controlling 51% stake in Xi'an Dong'ao Health Management, a cryogenic cell storage firm.

Price: 6.24, Change: +1.29, Percent Change: +26.06

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