Immuno-Biological Laboratories Co., Ltd. completed the acquisition of 58.3% stake in Skylight Biotech Inc. from a group of sellers.
June 20, 2013 at 12:00 am EDT
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Immuno-Biological Laboratories Co., Ltd. (JASDAQ:4570) agreed to acquire 58.3% stake in Skylight Biotech Inc. from a group of sellers for approximately ¥160 million on May 13, 2013. Xseed High Growth Fund 1, managed by Advanced Science and Technology Enterprise Corporation, and JAIC Seed Capital Co., Ltd.; Prometheus No.1 Investment Partnership, Life Science No.4 Investment Limited Partnership, and Akita Academy Venture Fund, managed by Pacific Rim Ventures Co., Ltd.; ASTEC Technology Incubation Fund I, managed by Advanced Science and Technology Enterprise Corporation; and Daitoh Trading Co., Ltd. will sell their stake in the transaction. Immuno-Biological Laboratories will acquire 0.01 million shares of Skylight Biotech.
In a related transaction, Immuno-Biological Laboratories Co., Ltd. (JASDAQ:4570) agreed to acquire 41.7% stake in Skylight Biotech Inc. for approximately ¥150 million in stock on May 13, 2013. For the period ending June 2012, Skylight Biotech Inc. had net assets of ¥83 million, total assets of ¥98 million, net sales of ¥126 million, operating income of ¥7 million, ordinary income of ¥10 million, and net income of ¥10 million. Board of Directors of Immuno-Biological Laboratories Co., Ltd. approved the transaction on May 13, 2013. The transaction is expected to be completed on June 20, 2013. Kato Accounting Office provided valuation report for the transaction.
Immuno-Biological Laboratories Co., Ltd. (JASDAQ:4570) completed the acquisition of 58.3% stake in Skylight Biotech Inc. from a group of sellers on June 20, 2013.
Immuno-Biological Laboratories Co., Ltd. is a Japan-based company engaged in the research, development, manufacture and sales of pharmaceutical products and quasi-drugs. The Company operates in four business segments. The Diagnostic and Reagent segment is engaged in the manufacture, purchase and sales of research-related reagents, medicine, as well as vitro diagnostics. The Genetically Modified Silkworm segment is engaged in the sales of transgenic silkworm cocoons related products and research development of pharmaceutical raw materials. The Testing segment is engaged in the provision of support for prevention and diagnosis in addition to drug discovery and research support in the field of lifestyle-related diseases using lipid metabolism analysis technology. The Cosmetics segment is engaged in the sales of cosmetics and other products.
IMMUNO-BIOLOGICAL LABORATORIES CO., LTD. 
