Glycotope GmbH, a biotechnology company developing antibodies against proteins carrying tumor-specific carbohydrate structures, and CantonBio Deutschland GmbH, a subsidiary of Canton Biologics Co. Ltd., a leading Chinese CDMO, announced the successful completion of CantonBio’s acquisition of Glycotope’s service business under the newly formed FyoniBio GmbH.

The spin-out completes Glycotope’s refocus solely towards drug discovery and development, utilizing its proprietary technology platform to develop uniquely tumor-specific monoclonal antibodies. FyoniBio, now as part of Canton Biologics Group, will continue the contract development service business and offer a broad range of ISO-9001 compliant services from cell line development to clinical bioanalysis.

“We look forward to collaborating with FyoniBio for our development needs, while Glycotope’s renewed focus solely on drug discovery and development sharpens our profile as a platform company for tumor targeting antibodies with unique specificity,” said Henner Kollenberg, CEO, Glycotope.

Xiao Shen, founder and CEO, Canton Biologics, said, “The acquisition of FyoniBio not only supports the international growth strategy of Canton Biologics, more importantly, through FyoniBio, Canton Biologics can significantly extend our technology platforms and service scope to better support international clients in Europe and worldwide.”