In 1992, Dendreon was founded, and its lead product, Provenge, was an immunotherapy for prostate cancer. Dendreon filed for Chapter 11 protection in Sept. 2014 after Provenge proved unattractive to doctors and patients.

A standard course of treatment cost $93,000, and the results showed only a four-month improvement in median survival rate. On Feb. 20, 2015, a bankruptcy judge approved the sale of the assets of Dendreon to Valeant Pharmaceuticals for $495 million.

In 2018, Nanjing Xinbai bought Dendreon by issuing Sanpower, already its largest shareholder, 180 million additional shares of its Shanghai-listed stock at 33.02 Chinese yuan ($4.80) apiece. Today, Dendreon is part of Nanjing Cenbes, one of China’s largest retailers.