Huons will absorb its affiliate Huons Lab to strengthen its research and development capabilities in biopharmaceuticals.
Huons said its board of directors approved a contract on the 18th to absorb Huons Lab, a subsidiary of holding company Huons Global. The company plans to complete the merger in mid-August following an extraordinary shareholders' meeting in July.
Huons Lab develops biopharmaceuticals and peptide drugs. Peptides are small fragments that form proteins, consisting of 2 to 50 linked amino acids, and play an important role in metabolism and biological activities within the body.
Huons said the merger will allow it to expand its development pipeline from existing synthetic drug candidates to biopharmaceuticals. Last month, Huons decided on a small-scale merger to absorb its wholly owned subsidiary Huons Bioscience to enhance management efficiency.
