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STARPICKS 16 Feb 2021 | 4:05 PM

Ho Wah Genting, E-MO Biotech and Fuse Biotech join hands in vaccine R&D, targets Nasdaq listing

HO WAH GENTING Berhad (KLSE: 9601) announced that E-MO Biotech Holding Inc – the holding company of E-MO Biology Inc (EBI) – and its shareholders had entered into a letter of intent with Fuse Biotech Inc – a wholly-owned subsidiary of Fuse Group Holding Inc (OTCQB: FUST) – for the acquisition of all equity interest of E-MO Biotech for a total purchase price of US$100mil to be paid in the shares of common stock of Fuse Group, which should be valued at US$1 per share for the purpose of this transaction.