On Feb 3, 2021, Ascentage Pharma (the Company, 6855.HK) issued 26.5 million new shares (the Placement) with a price of HK $44.20 and offering size of about US$150 million. CICC acted as the placing agent in this placement.

About Ascentage Pharma

Ascentage Pharma is a globally, clinical-stage biotechnology company engaged in developing novel therapies for cancers, CHB, and senesce diseases. On October 28, 2019, Ascentage Pharma was listed on the Main Board of the Stock Exchange of Hong Kong Limited.

Ascentage Pharma focuses on developing therapeutics that inhibit protein-protein interactions to restore apoptosis, or programmed cell death. The Company has built a pipeline of eight clinical drug candidates, including novel, highly potent Bcl-2, and dual Bcl-2/Bcl-xL inhibitors, as well as candidates aimed at IAP and MDM2-p53 pathways, and next-generation tyrosine kinase inhibitors. Ascentage Pharma is also the only company in the world with active clinical programs targeting all three known classes of key apoptosis regulators. The Company is conducting more than 40 clinical trials in the US, Australia, and China.

CICC executed the overall deal diligently to help the issuer’s financing efficiently. Based on its extensive deal experience, CICC assisted the Company in designing the key terms and proposed deal schedule to avoid uncontrollable risks caused by stock price change, helping the Company realize efficient financing and enhance company value. As the placing agent, CICC suggested the Company to seize the good market window and launch the issuance, considering the high liquidity in the HK capital market.

CICC made full use of its unique domestic and overseas sales network and introduced a number of high-quality Chinese long-term funds, which helped the company further optimize the shareholder structure. CICC successfully ensured the offering and was highly recognized by the Company, reflecting its full-spectrum capital market services, and its ability to lead projects independently in the healthcare industry.

As a leading investment bank with “China Roots, International Reach”, CICC will continue to utilize its capital market expertise as well as its seamless cooperation of onshore and offshore businesses to provide continuous support to our customers in terms of introduction of global investors, reaching international capital market, and promoting global business development.