Ascentage Pharma Raises $192.3M Through Oversubscribed Offshore Placement, Reaching 6.29% of Issued Share Capital

Ascentage Pharma Group International has raised $192.3M through an oversubscribed offshore share placement, with 22 million ordinary shares priced at HKD68.60 per share. The placement was led by Dajun Yang Dynasty Trust, an affiliate of CEO Dr. Dajun Yang, and represents approximately 6.29% of the company's issued share capital. Ascentage Pharma is a clinical-stage biotechnology company developing therapies for cancers, chronic hepatitis B virus, and age-related diseases in Mainland China.

Ascentage Pharma Group International (NASDAQ:AAPG) has successfully raised $192.3 million through an oversubscribed offshore share placement. The company announced the completion of the placement on July 14, 2025, involving the issuance of 22 million ordinary shares at a price of HKD68.60 per share. The placement, led by Dajun Yang Dynasty Trust, an affiliate of the company's CEO Dr. Dajun Yang, represents approximately 6.29% of the company's issued share capital [1][2].

The proceeds from the placement are aimed at bolstering Ascentage Pharma's commercialization efforts, enhancing global clinical development of its core pipeline candidates, and strengthening its global operations infrastructure. The company is dedicated to addressing unmet medical needs in cancers, chronic hepatitis B virus, and age-related diseases in Mainland China [3].

The offshore placement was conducted outside the U.S. under Regulation S, targeting non-U.S. persons. This strategic move allows Ascentage Pharma to diversify its investor base internationally while minimizing regulatory hurdles and associated costs. The placement shares will not be registered under the U.S. Securities Act and will not be offered to the public in Hong Kong [3].

Ascentage Pharma's recent IPO in January 2025 suggests an urgent need for additional capital, despite having just completed its public offering. The company secured a waiver of the standard post-IPO lockup restrictions, enabling it to raise funds quickly [3].

The capital injection will be crucial for advancing key drug candidates, such as olverembatinib and lisaftoclax, which are currently under global registrational Phase III trials. The company's lead asset, olverembatinib, is the first novel third-generation BCR-ABL1 inhibitor approved in China for the treatment of patients with 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 [3].

Ascentage Pharma's balanced approach to commercialization and pipeline development is essential for a biopharmaceutical company. The offshore placement is a testament to the company's commitment to securing additional funding to address unmet medical needs and advance its therapeutic pipeline.

References:
[1] https://uk.finance.yahoo.com/news/ascentage-pharma-raises-192-3m-041458418.html
[2] https://www.gurufocus.com/news/2983205/ascentage-pharma-announces-closing-of-placement-shares-in-topup-placement-aapg-stock-news
[3] https://www.stocktitan.net/news/AAPG/ascentage-pharma-announces-proposed-top-up-pbwbxuogp3un.html