Techedge signs definitive agreement to acquire China BioPharma

By Lisa Kerner

Erie, Pa., April 10 - Techedge, Inc. said it acquired China BioPharma Ltd., a Cayman Island company with majority ownership rights to China-based Tianyuan Bio-Pharmaceuticals Co. Ltd.

The deal is pending the Chinese government's final approval, according to a company news release.

Under the agreement, Techedge will acquire 100% of the outstanding capital stock of China BioPharma in exchange for three million unregistered shares of Techedge's common stock to be issued.

"With this acquisition, together with China BioPharma, we will bring more international expertise, technologies and management into Tianyuan Bio-Pharmaceutical and help expand the marketing capability beyond China," chief executive officer Peter Wang said in the release.

"This acquisition will make Tianyuan Bio-Pharmaceutical a much stronger company."

Tianyuan Bio-Pharmaceutical is one of China's largest non-governmental owned vaccine research manufacturers.

Techedge, an Iselin, N.J.-based developer of mobile and wireless broadband solutions, is repositioning itself to focus on China's bio-pharmaceutical sector.

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