(Yicai Global) Aug. 2 -- Shandong Sinobioway Biomedicine Co. [SHE:002581], a Chinese biotechnology company engaged mainly in pharmaceuticals and agriculture, is leading a consortium in a CNY4.5-billion (USD669-million) bid for the privatization and acquisition of an unnamed NASDAQ-listed biomedicine firm, the company said yesterday.

Sinobioway, previously owned by the renowned Peking University, is still in negotiations with the firm regarding a written agreement on assets sales so far, and it may take a while longer to finalize the agreement.

The Chinese company has hired JPMorgan Hong Kong to consult on the transaction.

Sinobioway has not disclosed information about its partners or details of the consortium's equity investment make-up.