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    Haohai acquired controlling interest in Hangzhou Aijinglun, further expanding Haohai’s ophthalmology product line

    Recently, Haohai Biotech has completed the acquisition of 55% share capital in Hangzhou Aijinglun, which is the only one domestic manufactureofposterior chamber phakic refractive lens in China. This acquisition helps Haohai secure a new ophthalmology product and expand into the market of refractive surgery.

     

    Haohai, through this transaction, further expands to a newophthalmictherapeutic area and deepens the layout of its ophthalmology industry chain. The new product line will expand the Company’s ophthalmology product portfolio, and will producesynergy effects with the existing products for cataract surgery, dry eye disease and optometry products in the pipeline.

     

    Hangzhou Aijinglun has been focusing on the manufacturing and development of the products using in myopiacorrection, and has successfully launched its self-developedposterior chamber phakic refractive lens (“PRL product”), which was approved by CFDA in 2009, renewed on October 31, 2019, and is the only one domestic product currently in Chinese market.

     

    In recent years, phakic refractive lens applied in myopia correction surgery has been widely used in large-scale private hospitals and public hospitals. According to authoritative statistics, China has nearly 700 million population with myopiaproblem, being the world’s largest myopia population, and alsothe country with the highest incidence of myopia. The incidence of myopia teenagers is about 67%. As the population of myopia increases year by year, the demand for refractive surgery to correct myopia is increasing quickly. However, it is reported that the penetration rate of China’s refractive surgery market is only about one-third of that in USA.

     

    The management of Haohai Biotech believes that Hangzhou Aijinglun,after joinedHaohai family as a fresh new starting point,will be able to leverage on Haohai’s global ophthalmic business layout, R&D platform and sales force, further promote the marketing of its existing PRL product and the development of the next generation. Together with Hangzhou Aijinglun, Haohai Biotech is dedicated to improving the visual quality ofpatients with myopia all over the world.

     

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