Big bucks in biotech: Chinese firm’s $206M purchase of Cytovance shows opportunity in industry
Shortly after it was announced that Hepalink USA, a subsidiary of China-based Shenzhen Hepalink Pharmaceutical Co Ltd., had acquired Oklahoma City-based Cytovance Biologics, Inc., McAfee & Taft patent attorney Mike LaBrie was interviewed by The Journal Record about what this transaction means for the Oklahoma biotech community.
“This is an indication the biotech industry is flourishing in Oklahoma,” said LaBrie, the leader of the firm’s Biotech Industry Group.
He went on to explain that the acquisition is likely to draw national attention from other investors to the state’s emerging biotech sector. That, in turn, could lead to more multimillion-dollar acquisitions.
“Hopefully this deal helps put Oklahoma on the biotech map as a huge success story and encourages more entrepreneurs, venture capitalists and seed investors to look at the market in Oklahoma City.”