Benda Increases Ownership of Cancer Gene Therapy Drug

Benda Pharma (BPMA.OB) incrementally increased its ownership of Gendicine, the first gene therapy for cancer, by buying another 2.56% of the stock in the maker of Gendicine, SiBiono. With this latest purchase, Benda now owns 60.13% of the total number of outstanding SiBiono shares.

Although Benda produces many traditional Chinese medications, Gendicine is a western style drug for cancer that has been on the market since 2004. Benda, which bought the shares from selling shareholders, did not disclose terms. In addition to its pharmaceutical business, Benda produces active pharmaceutical ingredients and bulk chemicals.

For the first quarter of 2007, Benda reported earnings of $500,000 on revenues of $3 million (see story). It did not break out separate figures for its various divisions or for Gendicine.

After the purchase, Benda now owns stakes in the following companies (ownership percentage in parentheses):

Benda Ebei (95.0%), which produces conventional and traditional Chinese medicines;

Jiangling Benda (95.0%), which produces active pharmaceutical ingredients used in capsules, tablets and fluids;

Yidu Benda (95.0%), which produces bulk chemicals;

Beijing Shusai (75.0%), which produces Pharyngitis Killer Therapy; and

SiBiono (60.13%), which produces Gendicine, a gene-based anti-cancer treatment.

Disclosure: none.