Sichuan Biokin Pharmaceutical (688506.SH) subsidiary plans to invest US$5 million in innovative drug company Connexus Therapeutics.

Sichuan Biokin Pharmaceutical (688506.SH) announced that, in order to broaden the Company's layout in other cutting-edge technology tracks beyond its innovative ADC drug R&D platform (HIRE-ADC platform), innovative multi-specific antibody drug R&D platform (GNC platform), specifically enhanced bispecific antibody platform (SEBA platform), and innovative ARC (radiopharmaceutical) R&D platform (HIRE-ARC platform), and to supplement the Company's technology matrix, its wholly-owned subsidiary Pangu Capital plans to subscribe for 3.881 million Series A preferred shares of Connexus Therapeutics for US$5 million. Upon completion of this capital increase, the Company will hold a 7.91% equity interest in Connexus. Connexus is an innovative drug company focused on the development of small molecule drugs in the oncology field, and all of its pipeline projects are currently in the preclinical R&D stage. This transaction aims, through the investment in Connexus, to make Connexus an associate company of the Company, broaden the Company's layout in other cutting-edge technology tracks beyond its innovative ADC drug R&D platform (HIRE-ADC platform), innovative multi-specific antibody drug R&D platform (GNC platform), specifically enhanced bispecific antibody platform (SEBA platform), and innovative ARC (radiopharmaceutical) R&D platform (HIRE-ARC platform), and supplement the Company's technology matrix.