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Fosun Pharma, HOPU Investments, CEL Healthcare Fund and WuXi PharmaTech to Jointly Acquire U.S.-based Ambrx

May. 21, 2015

A consortium consisting of entities affiliated with the Shanghai Fosun Pharmaceutical Group, HOPU Investments, China Everbright Limited's healthcare fund and WuXi PharmaTech announced on May 21, 2015 that the consortium has signed a merger agreement pursuant to which it will acquire Ambrx Inc.

The transaction is expected to be closed in the second quarter of 2015, subject to certain regulatory approvals and the satisfaction of customary closing conditions.

Ambrx is a clinical-stage biotechnology company focused on discovering and developing first-in-class and best-in-class optimized protein therapeutics known as bio-conjugates. The company's proprietary technology platforms enable attachment of pharmaceutically active molecules to specific sites within proteins more precisely than prior generations of bio-conjugates and with precision similar to that used to design small-molecule drugs.