Translator：Wang Qiyu

DiaSorin, an Italian medical diagnostics company, announced on the 23rd of September that it has reached a binding agreement with the Shanghai Baoshan District government to establish its first manufacturing and research base in China (“Project”), Xinhua News Agency reported on the 24th of September.

Headquartered in Italy and listed at the Italian Stock Exchange in the FTSE MIB Index, DiaSorin is a global company in the In Vitro Diagnostic (IVD) field, with 26 companies, 4 branches, 5 manufacturing facilities and 5 research and development centers. According to DiaSorin, it currently serves over 1,000 hospitals in China as market leader for the diagnosis of prenatal infections. This Project is the first time for DiaSorin to establish a manufacturing and R&D facility in China. It is expected that DiaSorin will employ more than 300 people in China once the new facility is established.

The Project is one of the key investment projects supported by Baoshan District Government in 2020, and Shanghai Baoshan Urban Industrial Park Development Company Limited ("Urban Industrial Park "), a subsidiary of the Baoshan District Government, and DiaSorin have signed a package of agreements for strategic cooperation between the two parties.

On behalf of Urban Industrial Park, Jinjie Chen, a senior partner from Landing Law Firm, provided one-stop legal services for the Project, including due diligence, negotiation, drafting and amendment of the agreements. He successfully assisted the two parties in overcoming differences in culture, business and value assessment, and concluding the final transaction.