Core Insights - Vitarylon, a clinical-stage biotechnology company, focuses on developing transformative therapies for age-related diseases, has appointed two senior executives to enhance its research and development pipeline [2][6] Group 1: Executive Appointments - Nasir Khan, DVM, PhD, has been appointed as Senior Vice President of Preclinical Development effective October 20, 2025, bringing over 30 years of experience in drug safety evaluation and regulatory submissions [2][3] - Gary Ingenito, MD, PhD, will serve as Senior Vice President of Clinical Development starting November 1, 2025, with extensive experience in drug development across various therapeutic areas [2][4] Group 2: Company Strategy and Pipeline - The company aims to advance its R&D pipeline, which includes three clinical-stage projects and four promising molecules that could be first-in-class or best-in-class [2][6] - Vitarylon has a diverse project pipeline targeting key pathogenic mechanisms of age-related diseases, including dysregulated cell death and uncontrolled inflammation [6] Group 3: Leadership Experience - Nasir Khan has led the non-clinical safety evaluation of over 400 preclinical candidates and has been involved in the approval of 63 new drug applications, including notable drugs like Celebrex and Ibrance [3][4] - Gary Ingenito has over 30 years of experience in clinical research and regulatory affairs, having worked on drugs for various diseases, including neurodegenerative conditions [4][5]

Core Viewpoint - Jiangsu Wuzhong Pharmaceutical Development Co., Ltd. has announced a delay in the completion of certain fundraising investment projects, specifically extending the expected operational date for the raw material drug phase II project to July 2026, due to ongoing technical improvements and to ensure project quality [1][4][5]. Fundraising Overview - The company was approved to issue up to 45.38 million shares, with an actual issuance of 41,046,070 shares at a price of 12.52 yuan per share, raising a total of approximately 513.90 million yuan, netting about 502.38 million yuan after deducting issuance costs [1][2]. - As of June 30, 2025, the actual amount used for fundraising projects was approximately 496.15 million yuan, leaving a remaining balance of about 26.41 million yuan [2][3]. Investment Project Details - The company has made adjustments to several fundraising projects, including the cancellation of some projects and the reallocation of funds to others, such as the raw material drug phase II project and the development of anti-tumor drugs [2][3]. - The company has also permanently supplemented working capital with surplus funds from completed projects, ensuring ongoing operational support [3][4]. Delay Reasons and Measures - The delay in the raw material drug phase II project is attributed to the need for further technical improvements, with the first phase of construction completed and the second phase still in progress [4]. - The company plans to adhere to regulatory requirements and optimize resource allocation to ensure timely completion of the projects despite the delays [4][5]. Approval Process - The board of directors and the supervisory board of the company approved the delay in the project timeline on August 28, 2025, without requiring shareholder approval [5][6]. - The sponsor institution has confirmed that the decision complies with relevant regulations and does not alter the intended use of the raised funds or harm shareholder interests [5][6].

Core Points - The company plans to use part of its idle raised funds to temporarily supplement working capital, with an amount not exceeding 12 million RMB and a duration of no more than 12 months from the board's approval date [1][4]. Summary of Fundraising Situation - The company was approved to issue up to 45.38 million new shares, with an actual issuance of 41,046,070 shares at a price of 12.52 RMB per share, raising a total of approximately 513.90 million RMB, netting about 502.38 million RMB after deducting issuance costs [1][2]. - As of June 16, 2025, the actual amount used for fundraising projects was approximately 496.14 million RMB, leaving a remaining amount of approximately 26.41 million RMB [2]. Summary of Fundraising Investment Projects - The company has several projects with varying levels of investment and usage, including: - National Class I anti-cancer drug project with a committed investment of 156.10 million RMB, with 34.94 million RMB used [2]. - Raw material drug project with a committed investment of 46 million RMB, fully utilized [2]. - Automation warehouse project with a committed investment of 36.80 million RMB, with 8.12 million RMB used [2]. - The total amount for temporary working capital supplementation is set at 12 million RMB [3][4]. Approval Process for Fund Usage - The board and supervisory committee approved the plan to use idle funds on June 25, 2025, ensuring compliance with relevant regulations and that it would not affect the normal progress of fundraising investment projects [4][5]. - The supervisory committee and the sponsor institution both expressed support for the plan, confirming it aligns with regulatory requirements and does not harm shareholder interests [5].