Wire flash
Baili Tianheng's unit to invest $5M in Connexus Therapeutics for broader tech reach
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Baili Tianheng (688506.SH) announced on September 17 that its wholly-owned subsidiary, Pangu Capital, plans to subscribe for 3.881 million shares of Series A preferred stock in Connexus Therapeutics for $5 million. Upon completion of the capital increase, Pangu Capital will hold a 7.91% stake in Connexus. The transaction aims to make Connexus an equity-participated company, thereby expanding Baili Tianheng's presence into other cutting-edge technology tracks beyond its existing innovative ADC drug R&D platform (HIRE-ADC platform), innovative multispecific antibody drug R&D platform (GNC platform), specificity-enhanced bispecific antibody platform (SEBA platform), and innovative ARC (nuclear medicine) R&D platform (HIRE-ARC platform). The investment is intended to complement the company's technology matrix.
Source report
September 17 – According to a Cailian Press report, Baili Tianheng (688506.SH) announced that its wholly-owned subsidiary, Pangu Capital, plans to subscribe for 3.881 million shares of Series A preferred stock in Connexus Therapeutics for $5 million.
Upon completion of the capital increase, Pangu Capital will hold a 7.91% stake in Connexus Therapeutics.
Strategic Objective
The transaction aims to make Connexus an equity-participated company through investment, thereby expanding Baili Tianheng's presence in other cutting-edge technology tracks beyond its existing R&D platforms. This move is intended to complement the company's technology matrix.
Existing R&D Platforms
- Innovative ADC drug R&D platform (HIRE-ADC platform)
- Innovative multispecific antibody drug R&D platform (GNC platform)
- Specificity-enhanced bispecific antibody platform (SEBA platform)
- Innovative ARC (nuclear medicine) R&D platform (HIRE-ARC platform)
Source
财联社Eastern
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Baili Tianheng subsidiary invests $5 million in Connexus Therapeutics for 7.91% stake