Tide Pharmaceutical (03880) has acquired a property in Hangzhou as the first phase of the group's large-scale CDMO production base project

Zhitong Finance App News, Tide Pharmaceutical (03880) announced that in order to advance the production capacity strategic layout of the Group's peptide and oligonucleotide CDMO business, the Group has signed an acquisition agreement for an industrial land and real estate located in Qiantang District of Hangzhou. As of the date of this announcement, the relevant acquisition has been completed, and it is intended to be the first phase of the Group's large-scale CDMO production base project (this project).

The project covers an area of about 30 acres, and the existing plant has a construction area of about 13,500 square meters. The Group plans to build a large-scale production line for peptide APIs in this project. The planned and designed production capacity is expected to be 3-5 tons per year. However, actual production capacity and commissioning arrangements will depend on factors such as project construction, equipment commissioning, regulatory approval and market demand. In the future, the Group plans to further integrate the second phase of the adjacent 56-acre plot to build a large-scale CDMO production park covering a total area of about 86 acres to further expand production capacity to meet large-scale demand and enhance the ability to undertake large-scale commercial projects.

The board of directors believes that this production capacity expansion is in line with the Group's business needs such as peptide and oligonucleotide CDMO business development, and is expected to help enhance the Group's CDMO service capacity and capacity acceptance capacity, and conforms to the overall interests of the Company and shareholders.