June 1, 2023

GenScript Biotech Corporation ("GenScript") announced that on 26 May 2023, Nanjing Bestzyme, an indirect non-wholly owned subsidiary of GenScript, entered into the BSJ Capital Increase Agreement with the investors, pursuant to which the investors agreed to acquire approximately 10.4168% equity interest in BSJ Nanjing immediately after such capital increase for a total consideration of RMB 250 million. This is another significant deal for GenScript following GenScript ProBio's close of an US$224 million Series C financing last year. The capital market remains bullish on the prospects of GenScript's synthetic biology business.

Pursuant to the BSJ Capital Increase Agreement, the contribution amount will be used to expedite R&D of synthetic biology pipelines, enhance business development for innovative enzyme products, and add to general working capital for the daily operation of the BSJ Group Companies. Upon the completion of the capital increase, the registered capital of Nanjing Bestzyme was increased from RMB 323,438,000 to RMB 361,047,070. This deal brought Bestzyme's valuation to RMB 2.4 billion. The financing was led by Hillhouse (with an investment of RMB 100 million), and included Huatai Zijin, Jiangsu Zhibo Investment, Hainan Xuanwan, New Huahai Group, Nanjing Lixu, Hainan Haiying and Huatai Jinsirui Fund. After closing, GenScript indirectly holds approximately 82.5917% equity interest in Nanjing Bestzyme.

With strong growth momentum, the economic impact of global synthetic biology market is expected to reach over US$1 trillion a year from 2030 to 2040. The Company believes that the cash inflow to be generated from Bestzyme's capital increase will facilitate continuing investment in R&D, expanding target markets and optimizing production costs for BSJ Group Companies to become one of the leading synthetic biology solutions providers, accelerate high-quality development of the industry, and drive business growth for the Group.

About GenScript Biotech Corporation

GenScript Biotech Corporation (HK:1548) is the world’s leading technology and service provider of life-science R&D and manufacture. Built upon its solid gene synthesis technology, GenScript Biotech comprises four major platforms: the life-science service and product platform, the biologics contract development and manufacturing organization (CDMO) platform, the global cell therapy platform, and the industrial synthesis biological product platform.

GenScript Biotech was founded in New Jersey, United States in 2002 and listed on the Hong Kong Stock Exchange in 2015. GenScript Biotech’s business operations span over 100 countries and regions worldwide with legal entities located in the USA, Mainland China, Hong Kong, China, Japan, Singapore, the Netherlands, and Ireland. GenScript Biotech provides premium, convenient, and reliable services and products for more than 200,000 customers.

As of June 30, 2022, GenScript Biotech had more than 5,500 employees globally, over 38% of whom hold master’s and/or Ph.D. degrees. In addition, GenScript Biotech owns a number of intellectual property rights, including over 190 patents, over 820 pending patent applications, and numerous trade secrets.

Driven by the corporate mission of “make people and nature healthier through biotechnology,” GenScript Biotech strives to become the most trustworthy biotech company in the world. As of June 30, 2022, 74,700 peer-reviewed journal articles worldwide have cited GenScript Biotech’s services and products.

For more information, please visit GenScript Biotech’s official website genscript.com.

About Bestzyme

Nanjing Bestzyme Bioengineering Co., Ltd. (Bestzyme), one of GenScript Biotech's subsidiaries, is a hi-tech enterprise integrating research, development, production and sales of industrial enzyme products and APIs. Dedicated to synthetic biology technology, Bestzyme has established a fully integrated end-to-end system from molecule design and screening, genetic engineering, strain construction, process development, scaled up production, application development to technical support and sales.

Established in 2013, Bestzyme is committed to driving innovation through independent R&D, core technology advancement and full ownership of intellectual property rights. Bestzyme has since then successfully developed pullulanase, glucose oxidase, thermostable amylase, protease, and other enzymes for industrial, feed, food, and pharmaceutical use with independent intellectual property rights, offering a complete product portfolio with leading performance trusted by customers across multiple industries. In 2022, Bestzyme has launched enzyme products including new acid amylase and detergent protease, as well as muramidase, protease and a variety of compound enzyme products for feed. Using biosynthesis approach, Bestzyme has developed a new enzymatic process in replacement of a traditionally chemical production process, which significantly improves yield, reduces chemical use and pollution, realizing green manufacturing together with partners.

Bestzyme adheres to its mission of "making the world’s best enzymes". With leading products and advanced technology platforms, Bestzyme will work with customers and partners to upgrade industry technology, develop clean and green manufacturing processes towards a better future together.

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