GL Biochem Reaches Final Terms for Reverse Merger

GL Biochem, a Shanghai peptide company, has signed a definitive agreement to complete a reverse merger with Commonwealth Biotechnologies, Inc. GL Biochem is the world’s largest supplier of research-grade peptide products and peptide reagents. Its single shareholder will own 78% of the new company’s stock, post-merger. Dr. Hongyan Xu, Founder, Chairman, and CEO of the GL Group, will become Chairman and CEO of CBI, and GL Biochem will control five of seven seats on the Board of Directors. More details... Stock Symbol: (NSDQ: CBTE)