Core Viewpoint - Changjiang Life Sciences (00775) shares rose over 7% following the announcement of a significant transaction involving the sale of ABCJ, LLC to TransCode Therapeutics, Inc. for $125 million, which will enhance its stake in RNAZ [1] Group 1: Transaction Details - Changjiang Life Sciences announced the sale of 100% equity in ABCJ, LLC to TransCode Therapeutics, Inc. for $125 million, to be paid through the issuance of 83,285 common shares and 1,153 Series A preferred shares [1] - The company will also purchase 223.73 shares of Series B preferred stock from RNAZ for a total consideration of $25 million [1] - Following the issuance of common shares, Changjiang Life Sciences will hold 9.1% of common stock in RNAZ, which will increase to 90.7% after the full conversion of preferred shares [1] Group 2: Business Implications - The transaction will result in the merger of Polynoma, a wholly-owned subsidiary of ABCJ, LLC, with RNAZ's operations [1] - Polynoma's flagship therapeutic candidate, seviprotimut-L, is a cancer vaccine targeting melanoma, while RNAZ's product line includes its flagship candidate TTX-MC138 and several other candidates in preclinical stages [1] - The combined business will possess a diverse range of therapeutic products, including Polynoma's flagship candidate entering Phase III trials [1]
港股异动 | 长江生命科技(00775)涨超7% Polynoma与RNAZ业务合并