According to industry sources on April 20, Stic Investments signed a stock purchase agreement with Vietnam's biosimilar firm Nanogen Biopharmaceutical. Under this deal, Stic Investment will acquire US$20 million worth of convertible bonds issued by Nanogen.
Nanogen Biopharmaceutical, founded in 1997, is a specialist in biosimilar products which is a rare business not only in Vietnam but in Southeast Asia.
Nanogen has become one of star companies in Vietnam by developing a hepatitis treatment biosimilar product. Until 2011, about 5 percent of the population in Vietnam suffered from hepatitis. Since Nanogen succeeded in developing biosimilar for hepatitis in 2012, the number of such patients nosedived.