Core Viewpoint - Ascentage Pharma Group International Inc. has announced the pricing of an offshore placement of 22 million ordinary shares, raising approximately HKD1,509.2 million (around US$192.3 million) to support its commercialization and global clinical development efforts in cancer treatments [1][3]. Group 1: Offshore Placement Details - The placement shares are priced at HKD68.60 per share and the offering was oversubscribed by eight times, with the transaction expected to close on July 17, 2025 [1][2]. - The vendor, an affiliate of the CEO, will subscribe for 22 million new ordinary shares at the same price, subject to customary closing conditions [2]. Group 2: Use of Proceeds - The net proceeds from the offshore placement will be utilized for commercialization efforts, enhancing patient access, advancing global clinical development of core pipeline candidates, and strengthening global operations through infrastructure and working capital [3]. Group 3: Company Overview - Ascentage Pharma is a global biopharmaceutical company focused on addressing unmet medical needs in cancers, with a pipeline that includes innovative drug candidates targeting key proteins in the apoptotic pathway and next-generation kinase inhibitors [6]. - The lead asset, olverembatinib, is approved in China for treating specific types of chronic myeloid leukemia (CML) and is undergoing global registrational Phase III trials [7]. - The second lead asset, lisaftoclax, is a novel Bcl-2 inhibitor recently approved for treating relapsed and/or refractory chronic lymphocytic leukemia (CLL) and is involved in multiple global registrational Phase III trials [8][9].
Ascentage Pharma Announces Pricing of Top-Up Placement