Ascentage Pharma Closes Offshore Placement, Raises HKD1,492M ($190.1M).

Ascentage Pharma, a biopharmaceutical company, announced the closing of an offshore placement of 22 million ordinary shares at HKD68.60 per share, raising approximately HKD1,492 million (US$190.1 million) in net proceeds. The shares were subscribed for by Dajun Yang Dynasty Trust, an affiliate of CEO Dajun Yang, M.D., Ph.D., and the Company will issue 22 million new ordinary shares.

Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) has announced the successful closing of an offshore placement of 22 million ordinary shares at HKD68.60 per share, resulting in net proceeds of approximately HKD1,492 million (US$190.1 million). The shares were subscribed for by Dajun Yang Dynasty Trust, an affiliate of the company's CEO, Dajun Yang, M.D., Ph.D. [1]

In a related transaction, Ascentage Pharma will issue 22 million new ordinary shares to the trust at the same price, representing approximately 6.29% of the company's issued share capital prior to the placement. The funds will be used to support commercialization efforts, global clinical development of core pipeline candidates, and strengthening global operations [1].

The offshore placement was conducted outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act of 1933, as amended. The transaction was managed by J.P. Morgan (Asia Pacific) Limited and Citigroup Global Markets Limited, acting as placing agents [1].

Ascentage Pharma's lead asset, olverembatinib, is a novel third-generation BCR-ABL1 inhibitor approved in China for the treatment of patients with chronic myeloid leukemia (CML) in chronic phase (CML-CP) with T315I mutations, CML in accelerated phase (CML-AP) with T315I mutations, and CML-CP that is resistant or intolerant to first and second-generation TKIs. The company is currently conducting an FDA-cleared, global registrational Phase III trial, POLARIS-2, of olverembatinib for CML, as well as global registrational Phase III trials for patients with newly diagnosed Ph+ ALL and SDH-deficient GIST patients [1].

The second lead asset, lisaftoclax, is a novel Bcl-2 inhibitor for the treatment of various hematologic malignancies. The NDA for the treatment of relapsed and/or refractory CLL and SLL just received approval by China’s National Medical Products Administration (NMPA). The company is currently conducting four global registrational Phase III trials for lisaftoclax [1].

Ascentage Pharma has built a robust R&D pipeline and entered into strategic partnerships with leading biotechnology and pharmaceutical companies, such as Takeda, AstraZeneca, Merck, Pfizer, and Innovent, in addition to research and development relationships with leading research institutions [1].

References:
[1] https://www.globenewswire.com/news-release/2025/07/17/3117028/0/en/Ascentage-Pharma-Announces-Closing-of-Placement-Shares-in-Top-Up-Placement.html