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Medical&Biological Laboratories Co Ltd and JSR CORP to Form Business and Capital Alliance

Tuesday, 12 Mar 2013 04:55am EDT 

Medical&Biological Laboratories Co Ltd announced that Medical&Biological Laboratories Co Ltd and JSR CORP have agreed to form a business and capital alliance. Through the business alliance, the two companies will be cooperating in the development of Latex particle related reagent, epigenome related new drug tool development and the utilization of overseas infrastructure, among others. Through the capital alliance, Medical&Biological Laboratories Co Ltd will be issuing 8,704,000 new shares ot common stock (33.7% of total shares outstanding) to JSR CORP, at the price of JPY 517 per share, or for JPY 8,704,000 in total, effective March 29, 2013. After this, JSR CORP will hold a 33.4% stake in Medical&Biological Laboratories Co Ltd. 

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