Ascentage Pharma (6855.HK) announced today before the opening of the Hong Kong Stock Exchange that the company has signed a placement and subscription agreement with JP Morgan Chase Group, China International Capital Corporation Hong Kong Securities Co., Ltd. and Citigroup Global Markets Asia Limited, at a price of HK$24.45 per share 22.5 million new shares (old top-up), and the total proceeds expected to be raised from the subscription are approximately HK$550 million.

The subscription price for the new shares is HK$24.45, a discount of about 9.94% to Ascentage Pharma's closing price per share on January 17, 2023. The amount of allotment and subscription shares accounted for about 7.83% of the company's enlarged share capital.

The proceeds from the issuance of financing will be mainly used for the further clinical development and commercialization of pipeline products, including but not limited to the clinical development of the company's core product Neriq (Orebatinib), key candidate product APG-2575 and other key candidate products and propulsion, and general corporate use, etc.

Dr. Yang Dajun, Chairman and CEO of Ascentage Pharma, said: '2022 is a year full of challenges, but Ascentage Pharma is still going against the trend and has still handed over an impressive report card. Thanks to investors for their continuous support to Ascentage Pharma !This financing will accelerate the clinical development and commercialization of the company's main varieties. We will continue to improve the accessibility of Neriq and further explore the clinical potential, and continue to accelerate the global clinical development of APG-2575. The company will continue to uphold the ' With the mission of solving the unmet clinical needs of patients in China and even around the world, adhere to the strategy of 'global innovation', and strive to bring more benefits to patients and create more value for shareholders!'

Contact:

Email: IR@ascentage.com

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