On 29^th June, Beijing, Sanpower Group announced the completion of its 100% acquisition of Dendreon, an American-made biotechnology company. As the core product of Dendreon, Provenge is the first FDA-approved cellular immunotherapy for prostate cancer. The completion of this acquisition represents that a Chinese company owns the full intellectual property rights, as well as its manufacturing and application technologies of this immunotherapy drug. 

In fact, in January 2017, Sanpower Group has achieved an agreement on the 100% acquisition of Dendreon with Valeant, a world-renowned pharmaceutical company. The acquisition of Provenge is the first time a Chinese enterprise has ever acquired an American-made innovative product and also the first time a Chinese enterprise has ever acquired a cellular immunotherapy overseas.

Through this transaction, Sanpower Group has acquired not only the global intellectual property rights of the cellular immunotherapy medicine Provenge, but also Dendreon’s top talent team, world-class cellular R&Dplatform, production facilities, logistics and distribution, and more importantly, its quality control standards and quality assurance system known as the core for cellular immunotherapy production. This also means that, with the help of Dendreon’s capabilities and extensive experience in R&D, manufacturing, quality control and so on. Sanpower Group could be able to develop more immunotherapy projects and become a leading company in the cutting-edge precision medical care industry worldwide in the future. 

In recent years, Sanpower Group has taken the strategic step in healthcare sector, and currently has recourses in cord blood banks, senior care institutions and hospitals with the purpose of forming a benign circle of health industry which provides health services throughout people’s life. Sanpower previously has indicated that, in order to improve the layout of its healthcare sector, Sanpower will set foot in genetic testing and precision medical treatment and thus develop a health industry platform integrating medical and elder care services. The acquisition of Provenge this time is exactly an important case of Sanpower’s footprint in the area of precision medical treatment for Sanpower Group.

In addition, Provenge will synergize with Sanpower’s existing healthcare businesses. Sanpower Group owns the world’s largest umbilical cord blood banking resources in China and Southeast Asia, and gene testing business which decide the foundation of precision healthcare. Sanpower Group’s senior care services have more than 6 million senior subscribers, and also Provenge was created for curing prostate cancer with high incidence among senior men. After the acquisition of Dendreon, Provenge will collaborate with Sanpower’s businesses in senior care, rehabilitation care, cord blood storage services, genetic testing and so on, and Sanpower will be committed to the better and faster development of Dendreon with its worldwide resources.