Calmark Sweden AB locates Chinese mainland office to Wuxi, outside Shanghai

Calmark Sweden AB locates Chinese mainland office to Wuxi, outside Shanghai

Press releases
Calmark Sweden AB today announced that a new decision has been made regarding the location of the Company's office in mainland China. Following financial negotiations, the alternative to locate the office to Wuxi, outside Shanghai, appears more advantageous than the previously disclosed location, the Greater Bay Area.

Wuxi International Life-Science Innovation Campus (I•Campus) is about an hour away from Shanghai. It is a startup hub and was co-built by Wuxi Municipal Government, Wuxi New District Government and AstraZeneca. It offers premises and modern infrastructure to newly established businesses, mainly within life sciences and biotechnology. It is open only to companies that apply and qualify, which Calmark has done.

The local government of Wuxi offers a rent-free period of three years, and there is a possibility to be eligible for financial support for registration of products as well as a reimbursement of registration costs from the CFDA as the Company expands. Logistically and recruitment-wise, the location is equivalent to the Greater Bay Area.

"We have assessed the alternatives in China closely together with our consultants at Nordic Match, and after local negotiations, the Shanghai area and the Wuxi I•Campus is perceived as a better choice than the Greater Bay Area," says Anna Söderlund, CEO of Calmark. "We have thus changed our decision today as we have passed the I•Campus qualification process, and we are pleased about this."

Read more about the Wuxi International Life-Science Innovation Campus (I•Campus):

This information is information that Calmark Sweden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:20 CET on 25 November 2020.

Every care has been taken in the translation of this document. In the event of discrepancies, the Swedish original will supersede the English translation.