(Hong Kong, 3 Dec 2015) - Tianda Pharmaceuticals Limited (Tianda Pharmaceuticals or the "Company")( Stock Code: 00455.HK) is pleased to announce that Tianda Pharmaceuticals through its wholly-owned subsidiary entered into an investment agreement (Investment Agreement) with ASLAN Pharmaceuticals Limited (ASLAN) at a consideration of US$3,870,811.
The Investment Agreement refers to the Series C Preference Shares Agreement signed among ASLAN and a number of investors, at the price of US$1.88 per share. Tianda Pharmaceuticals subscribed 2,058,942 shares of its Series C Preference Shares at US$3,870,811, approximately HK$30 million and will settle it with cash. The Series C Preference Shares will rank senior to all other equity securities of ASLAN, including ordinary shares, the Series A and Series B Preference Shares. Moreover, it is at Tianda Pharmaceuticals's discretion to convert Series C Preference Shares into ordinary shares.
ASLAN is an oncology focused biotechnology company developing a portfolio of immunotherapies and targeted drugs, focusing on Asia prevalent tumour types. Led by a highly experienced management team with global pharmaceutical expertise, ASLAN is headquartered in Singapore with a platform which reaches across the region via its offices in Taiwan and China, enabling ASLAN to conduct and support regional clinical development programmes. ASLAN is developing four product candidates, namely ASLAN001, ASLAN002, ASLAN003 and ASLAN004, addressing multiple indications including gastric and breast cancers and inflammatory diseases. ASLAN has introduced various international investors, including BV Healthcare II, Sagamore Investments, Cenova Ventures, Morningside Group, XinChen Ventures, etc.
The Investment Agreement with ASLAN is in line with the overall R&D and business development strategies of Tianda Pharmaceuticals. Through the investment, the Company will further capitalize on its efforts in investment development area and tap into the high-end medical R&D area, including targeted drugs and immunotherapies. Tianda Pharmaceuticals expects to collaborate with ASLAN by bringing new effective oncology therapies into the China market.
Mr. Shi Shaobin, Executive Director and Managing Director of Tianda Pharmaceuticals expressed, "We strongly believe the investment in ASLAN will bring positive impact on Tianda Pharmaceuticals. We see a great prospect of ASLAN driven by its strong R&D capacity on oncology therapies. With a huge domestic and international market of oncology treatments, ASLAN is considered having a great deal of development potential. Thus, we believe this is a good investment opportunity. We anticipate strong synergistic effects with ASLAN. By collaborating with ASLAN's R&D team and its worldwide R&D working partners, this will strengthen the Company's R&D capacity and expedite the progress of high-end medical research and development."
About Tianda Pharmaceuticals Limited (TPL)
TPL is principally engaged in the R&D, manufacture and sales of pharmaceutical, biotechnology and healthcare products. Headquartered in Hong Kong, TPL runs two pharmaceutical R&D centers and production bases, in Zhuhai and Kunming, China, specializing in R&D and manufacture of chemical and Chinese medicines, biochemical medicines as well as biotech products. TPL's sales subsidiary established in Shenzhen is responsible for the sales and marketing and brand building in China. The Company's wholly-owned subsidiary established in Australia is for the product development as well as marketing and sales in the South Pacific countries including Australia and New Zealand, etc. The Company's wholly-owned subsidiary established in Hong Kong is responsible for the sales of pharmaceutical and healthcare products across regions in Hong Kong, Macau, Taiwan and other international markets.
www.tiandapharma.com
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Tianda Pharmaceuticals Limited
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E: maggiechan@tianda.com
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