Molecular Data Inc. intends to further upgrade its digital tools using Blockchain
SHANGHAI, April 1, 2021 /PRNewswire/ — Molecular Data Inc. (“Molecular Data” or the “Company”) (Nasdaq: MKD), a leading technology-driven platform in China’s chemical industry, announced that it has signed a cooperation agreement with Dalian Lianhua Chemical Co., Ltd. (“Dalian Lianhua”), a leading manufacturer in the subdivision field of boric acid compounds in China. In the future, the two companies will combine the strengths of both parties to help the rapid development of R&D in domestic pharmaceutical companies and the drug synthesis industries.
Molecular Data is already using digital tools including big data and neuron network to achieve the intelligent optimization of the industry supply chain. The selective use of Blockchain including Blockchain Oracle, decentralized oracle network will empower the scientific research progress of domestic pharmaceutical companies.
With the signing of the cooperation agreement, this will put hundreds of products such as boric acids, reagents and chiral compounds produced by Dalian Lianhua, on the Molecular Data e-commerce platform.
Lianhua and Molecular Data intends to jointly serve a wide range of pharmaceutical companies and biotechnology, agro-chemical and special chemical companies globally.
As the two parties work together, they can yield better intelligent digital systems and create one-stop e-commerce platforms to provide industry customers with higher quality Compounds and intermediates, This will not only help better new drug R&D, it will also improve industry R&D efficiency, and help companies improve their scientific research capabilities.
Dalian Lianhua Chemical Co., Ltd. was established in 2004. With hundreds of pharmaceutical chemicals developed and industrialized, their main products dominate the international market.
It is a professional manufacturer of organic boric acid products and chiral products, and an industry-recognized supplier of key raw materials for pharmaceuticals and new materials. The company focuses on technological innovation and the industrialization of core products and has independent intellectual property rights, and has applied for numerous national patents.
About Molecular Data Inc.
Molecular Data Inc. is a leading technology-driven platform in China’s chemical industry, connecting participants along the chemical value chain through integrated solutions. The Company delivers e-commerce solutions, financial solutions, warehousing and logistics solutions, and SaaS suite that are intended to solve pain points for participants in the traditional chemical industry. Built upon a comprehensive knowledge engine and artificial intelligence (AI) capabilities, the Company’s e-commerce solutions are mainly offered through its online platform, consisting of molbase.com, molbase.cn, Moku Data WeChat account, Chemical Community APP and other ancillary platforms.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a variety of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, results of operations and financial condition; the expected growth of the chemical market; the Company’s ability to monetize the user base; fluctuations in general economic and business conditions in China; the potential impact of the COVID-19 to the Company’s business operations and the economy in China and elsewhere generally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and the Company undertakes no duty to update such information, except as required under applicable law.
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SOURCE Molecular Data Inc.
