Kelun-Biotech Announces Approximately US$250 Million Placement

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• APAC - English

CHENGDU, China, June 5, 2025 /PRNewswire/ -- On June 5, 2025, Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. ("Kelun-Biotech" or the "Company", 6990.HK) announced the placement of 5,918,000 H shares under its general mandate, representing approximately 2.54% of the enlarged share capital of the Company post the placement. The shares were placed at HK$331.8 per share, raising net proceeds of approximately US$250 million.

Highlights of the placement include:

• The offering was widely recognized by a broad-based investors including domestic and international institutional investors. The transaction was multiple times oversubscribed with robust participation from high-quality investors including global long only funds, sovereign wealth funds, and healthcare specialist funds;
• Due to the robust booking demand, the deal size was upsized from the initially targeted US$200 million at launch to US$250 million, making it the largest follow-on offering in the biopharma industry in the Hong Kong market over the past 12 months;
• The final offer price represents a 7.58% discount to the last closing price and a 0.89% premium to the average closing price over the past five trading days.

The Company primarily intends to use the net proceeds of the placing (i) for the research and development, clinical trials, registration filings, manufacturing and commercialization of its products; (ii) to enhance its internal research and development technology capabilities, strengthen external collaboration, and expand its product pipeline portfolio.

Dr. Michael Ge, CEO of Kelun-Biotech, commented: "We are pleased to see continued support from our key existing shareholders, alongside the addition of new, high-profile investors. This reflects the strong recognition of Kelun-Biotech's long-term investment value by international capital markets and specialist investors. With the support of this financing, we aim to further strengthen our pipeline strategy and accelerate global clinical development. This will enable us to unlock the potential of cutting-edge therapies and deliver innovative treatments to benefit more cancer patients."

About Kelun-Biotech

Kelun-Biotech (6990.HK) is a holding subsidiary of Kelun Pharmaceutical (002422.SZ), which focuses on the R&D, manufacturing, commercialization and global collaboration of innovative biological drugs and small molecule drugs. The company focuses on major disease areas such as solid tumors, autoimmune, inflammatory, and metabolic diseases, and in establishing a globalized drug development and industrialization platform to address the unmet medical needs in China and the rest of world. The Company is committed to becoming a leading global enterprise in the field of innovative drugs. At present, the Company has more than 30 ongoing key innovative drug projects, of which 3 projects have been approved for marketing, 1 project is in the NDA stage, and more than 10 projects are in the clinical stage. The company has established one of the world's leading proprietary ADC platforms, OptiDC™, and has 1 ADC project approved for marketing, 1 ADC project in NDA stage, and multiple ADC and novel DC projects in clinical or preclinical research stage. For more information, please visit https://kelun-biotech.com/.

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SOURCE Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd.