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Shineco Inc. (NASDAQ:SISI) shares are trading higher on Wednesday after the company announced the launch of what it calls the world's first on-chain cell asset tokenization platform.
See what is happening to SISI stock here.
What To Know: To support the system, Shineco acquired a 51% stake in Xi'an Dong'ao Health Management, a company specializing in cryogenic cell storage and clinical applications. This deal, along with its earlier purchase of Singapore-based Infiniclone, gives Shineco the physical infrastructure needed to connect blockchain-based tokens with real-world cell storage and treatment.
The company said the platform is designed to cut costs, improve transparency, and create liquidity in the biotech sector by turning cellular assets into tradable digital instruments.
CEO Jennifer Zhan called the launch the beginning of a "decentralized biotech economy," arguing it could open new commercial opportunities for both medicine and investors.
The stock gained sharply on expectations that Shineco's move into blockchain and biotechnology integration could unlock new revenue streams and expand its role in the global cell therapy market.
SISI Price Action: Shineco shares were up 36.97% at $6.78 at market close on Wednesday, according to Benzinga Pro.
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Photo: Gorodenkoff via Shutterstock.
Posted In: SISI
