Shineco, Inc., a producer and distributor of Chinese herbal medicines, organic agricultural and hemp products, has announced that the company and Mayah Biological Holdings Limited, a British Virgin Islands Company headquartered in Taiwan Biomedical Park, had signed a Proposal for Purchase of Equity Interest of Mayah Biological Holding Limited, with respect to the potential purchase of at least 51% equity interests in Mayah Biological by Shineco.

Mayah Biological is a biotechnology company, which focuses on the development of chemical and biomedicine in the pre-clinical and clinical stages. It currently plans to build over 10 medicine pipelines, covering medicine R&D in the fields of tumor, diabetes and antidote.

One drug has completed clinical trial phase 2, one cancer drug is ready for clinical trial phase 2, and three other cancer drugs have completed preclinical preparations to enter clinical trial phase 1. Many drugs in the pipeline are first-in-class drugs, with no similar products in the market.

Mayah Biological takes advantages of the combination of years of medicine R&D experience of the scientific research team and AI medicine R&D technology, and is also engaged in the R&D of new me-better medicine with known targets.