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FINWIRES

Medtide Acquires China Land, Property for Peptide CDMO Project

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Medtide (HKG:3880) completed the acquisition of a parcel of industrial land and property in Hangzhou City, China, a Thursday Hong Kong bourse filing said.

The land and property are proposed to be used in phase I of the company's large-scale peptide and oligonucleotide CDMO production base project.

The company plans to construct a large-scale peptide active pharmaceutical ingredients production line under the project with an estimated designed annual production capacity of 3 to 5 tonnes.

Further expansion using an adjacent land parcel to develop a large-scale CDMO production park is also part of the company's plan.

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