Shanghai's SARI pays €300m for Italian cancer biopharma NMS Group.

SARI, a Chinese market-leader biotech investment company, closed the previously announced agreement to acquire the 90% interests in NMS Group. SARI is an affiliate of Shanghai Advanced Research Institute, focused on investment in cutting-edge bio-technology and life-science opportunities, especially targeted cancer therapy. Headquartered in Nerviano, near Milano, NMS is a group of fully integrated companies owned by Regione Lombardia through Fondazione Regionale per la Ricerca Biomedica, focused on oncology drug discovery, preclinical research, clinical development and manufacturing. “After tremendous efforts from all parties in the last full year, we eventually made a successful closing on the transaction today. Today is the beginning of a new era of innovation and collaboration in pharmaceutical area between Italy and China” – said Mr.Yi Baxian representative of SARI. “We believe that with the integration of Chinese capital and resources, NMS will certainly rejuvenate and generate prosper achievements, which will contribute to the well being of millions of patients.”