Group 1 - The company, Changjiang Life Sciences Technology, has announced a transaction involving the issuance of common and preferred shares to acquire 100% equity of Pharmagesic (Holdings) Inc, with specific rights related to cash settlement and buyback options for the preferred shares [1] - The transaction will lead to a business merger with WEX, allowing access to the buyer's extensive experience in biotech fundraising, R&D, and commercialization in the pharmaceutical sector, particularly for pain relief and related diseases [2] - The flagship candidate product, Halneuron®, is expected to advance its clinical trial data and market entry due to the integration of the buyer's expertise and resources [2] Group 2 - The buyer's listing on NASDAQ will facilitate access to the U.S. capital markets, enabling faster R&D for Halneuron® and increasing the company's stake in the buyer to approximately 90% after conversion of preferred shares [3] - Partial waivers of cash settlement and buyback rights for the preferred shares will help the buyer meet NASDAQ shareholder equity requirements while maintaining its listing status [3] - The buyback rights associated with the preferred shares allow the seller to repurchase all Halneuron assets in exchange for cash settlement amounts, ensuring that partial waivers do not affect the seller's rights to repurchase [3]
长江生命科技(00775)与DWTX订立弃权协议