Baili Tianheng (688506.SH) subsidiary plans to invest $5 million in innovative pharmaceutical company Connexus Therapeutics

Zhitong Finance App News, Baili Tianheng (688506.SH) issued an announcement to expand the company's layout on cutting-edge technology tracks other than the innovative ADC drug development platform (HIRE-ADC platform), the innovative multi-specific antibody drug development platform (GNC platform), and the specific-enhanced bispecific antibody platform (SEBA platform) and the innovative ARC (nuclear drug) R&D platform (HIRE-ARC platform) to supplement the company's technology matrix. Pangu Capital, a wholly-owned subsidiary of the company, plans to subscribe for 3.881 million Series A preferred shares of Connexus Therapeutics for US$5 million. After the capital increase is completed, the company will hold 7.91% of Connexus's shares.

Connexus is an innovative pharmaceutical company focusing on the development of small molecule drugs in the field of oncology. All of its research projects are in the pre-clinical development stage. The purpose of this transaction is to make Connexus a shareholder of the company by investing in Connexus and broadening the company's technology matrix by expanding the layout of the company's cutting-edge technology tracks other than the innovative ADC drug development platform (HIRE-ADC platform), the innovative multi-specific antibody drug development platform (GNC platform), and the specific enhanced bispecific antibody platform (SEBA platform) and the innovative ARC (nuclear drug) development platform (HIRE-ARC platform).