Apr. 19, 2017
On April 19, 2017 Chengdu Kanghong Pharma and Israel-based IOPtima Ltd. signed a non-binding memorandum of understanding for a full purchase in stages of IOPtima.
In the first stage, Kanghong will invest $7 million in IOPtima against 19% of its share capital. In the second stage, Kanghong may acquire additional shares from IOPtima’s shareholders for an additional $17.2 million, at a company value of $ 42 million, thus increase its holding to 60%. In the third and fourth stages - Kanghong may acquire the remaining 40% of the holdings at a company valuation that will reflect the IOPtima’s business at the time of acquisition.