Gracell Biotechnologies Announces Shareholders' Approval of Merger Agreement

Core Viewpoint - Gracell Biotechnologies Inc. has received shareholder approval for a merger with AstraZeneca Treasury Limited, which will result in Gracell becoming a wholly owned subsidiary and a private company, with its American Depositary Shares (ADSs) no longer traded on stock exchanges [1][2][3] Group 1: Merger Details - The extraordinary general meeting (EGM) held on February 19, 2024, saw approximately 458,283,333 shares, representing about 94.8% of total outstanding votes, in favor of the merger agreement [2] - The merger agreement was approved by approximately 99.9% of the total votes cast at the EGM [2] - The merger is expected to close on or around February 22, 2024, subject to the satisfaction or waiver of conditions outlined in the merger agreement [3] Group 2: Company Overview - Gracell is a global clinical-stage biopharmaceutical company focused on developing innovative cell therapies for cancer and autoimmune diseases [4] - The company utilizes its FasTCAR and TruUCAR technology platforms to address challenges in conventional CAR-T therapies, including manufacturing time, cell quality, and therapy costs [4] - Gracell's lead candidate, BCMA/CD19 dual-targeting FasTCAR-T GC012F, is currently under evaluation for treating multiple myeloma, B-NHL, and SLE [4]