Recently, Libang Instruments announced that it will establish a Sino-foreign joint venture company in Dongguan. Libang Instrument reported on August 16 to close at 22.95 yuan, down 3.57%.
It is reported that Libang Instrument Co., Ltd. and the company's holding subsidiary Edan Diagnostics, Incorporated intend to cooperate with Xizeng Shi (Shi Xizeng) to jointly invest RMB 50 million to establish a Dongguan subsidiary and develop an in vitro detector project. Libang Instrument invested 15 million yuan and its shareholding ratio was 30%. Edan Diagnostics contributed RMB 5 million in currency and holds a 10% stake in Dongguan Subsidiary. Funds come from Libang Instrument's own funds.
According to the announcement, Mr. Shi Xizeng has the relevant technology of the immunization rapid in vitro diagnostic system. He invested 30 million yuan in the form of intellectual property rights, and his shareholding ratio was 60%. It is reported that this product is mainly used to detect acute heart disease detection, acute infectious disease detection, and malignant tumors. It combines various new technologies such as magnetics, microelectronics, biotechnology, and microfluidics. It has entered the stage of industrialization.
However, this product is similar to the i-STAT tester manufactured by Abbott in the United States and the Triage tester manufactured by Biosite in the United States. Therefore, there is also a great risk of competition.
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