Crown Bioscience Enters Merger Agreement With JSR Corporation
Shanghai – December 22, 2017 – Cooley advised the special committee of the board of directors of Crown Bioscience International, a global drug discovery and development services, company on its merger agreement with JSR Corporation, headquartered in Tokyo, Japan. The merger is expected to close before the end of second quarter of 2018.
Under the terms of the merger agreement, Crown Bioscience will merge into and become an indirect, wholly-owned subsidiary of JSR and be delisted from the Taipei Exchange. The strategic merger integrates Crown Bioscience’s leading translational technology platform providing drug target validation, efficacy testing and patient response characterization with JSR’s in vitro diagnostic solutions, GMP manufacturing capabilities and worldwide distribution networks.
“We are excited to join the JSR family of companies through this innovation-driven strategic partnership,” said Dr. Jean-Pierre Wery, Crown Bioscience’s CEO. “Crown Bioscience’s core competencies in preclinical and translational research combined with JSR’s global footprint, diagnostic solutions and manufacturing capabilities will provide a fully integrated solution to help biopharmaceutical companies get drugs and diagnostics to market more efficiently.”
Crown Bioscience, which trades on the Taipei Exchange under the ticker “6554,” is a global drug discovery and development solutions company providing translational platforms to advance oncology, inflammation and metabolic disease research. With an extensive portfolio of relevant models and predictive tools, Crown Bioscience enables clients to deliver superior clinical candidates.
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