Q&M Dental Group Confirm Covid-19 Test Kit From ARL
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The wholly-owned subsidiary of Q&M Dental Group has confirmed its purchase of the Covid-19 test kit and related business from the biotech company, Acumen Research Laboratories (ARL) on July 5.
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Both companies agreed to invest $3 million in cash on the Acumen Diagnostics, a joint venture between Q&M and ARL. With this latest joint venture agreement, Acumen Diagnostics was to issue new shares to Dr. Ong, Dr. Ong’s sister-in-law Amy Zeng, and Acumen Holdings, such that they will each hold 30.7 percent, 5 percent and 13.3 percent of Acumen Diagnostics.
Q&M shareholding in Acumen Diagnostics is now 51 percent and last Friday, Q&M share ended at 44cent, down 0.5cents, or 1.1 percent.