Release Date: July 24, 115 Statement Date: July 23, 115 Statement Time: 16:49:54 Company Code: 7827 Company Name: HanchorBio Inc. (Hanchor-KY Chuang) Subject: Announcement of Commitments Made by the Company for Its Initial Listing on the Innovation Board and Subsequent Implementation Status Applicable Clause: Item 51 Factual Date: July 23, 115
Details: 1. Factual Date: 07/23/115 2. Company Name: HanchorBio Inc. (Chinese Translation: Hanchor Biotechnology Co., Ltd., Cayman Islands) 3. Relationship with Company (Please enter '本公司' or 'Subsidiary'):本公司 (Our Company) 4. Cross-shareholding Ratio: Not applicable 5. Reason for Occurrence: In accordance with the letter issued by the Taiwan Stock Exchange Corporation on April 7, 115 (No. 1151700907), this announcement discloses the commitments made by the Company when applying for its initial listing on the Innovation Board, along with the implementation status as of the second quarter of 115.
When applying for its initial listing on the Innovation Board, the Company made the following commitments as required by the Taiwan Stock Exchange Corporation:
1. Disclose in the 'Special Notes' section of the prospectus: a. Progress and estimated market size of each new drug product line currently under development, R&D progress and key clinical indications for each project, new drug technologies adopted (e.g., PD-1/PD-L1, CD47/SIRPα), and differentiation from competing peers. b. Expected development and market launch timeline for new drug products, required funding and sources of capital, and specific plans for achieving profitability.
2. Disclose in the prospectus the decision-making process and terms of the HCB101 product licensing agreement signed with Shanghai Henlius Biotechnology Co., Ltd. ("Henlius") in 114. Additionally, the Company commits that any future transactions with Henlius will be submitted to the Audit Committee for approval before being presented to the Board of Directors.
3. Disclose in the prospectus the impact of the U.S. 'Biosecurity Act' passed in December 114 on the Company’s future development, along with geopolitical risks and mitigation measures.
4. Clearly state on the cover of the prospectus in prominent font: "The Company is applying for initial listing on the Innovation Board under Paragraph 2, Article 29 of the Listing Review Guidelines. Profitability is not required as a listing condition, and the business involves significant risks. Investors should pay special attention." "The Company will continue to appoint a lead securities underwriter during the listing year and the following two fiscal years to assist in compliance with the securities laws and regulations of the Republic of China, the rules of the Taiwan Stock Exchange, public announcements, and the listing agreement. If the appointment with the lead underwriter is terminated during the listing period, the Company shall appoint another securities underwriter within one month from the effective date of termination."
6. Mitigation Measures: 1. The above disclosures have already been included in the prospectus for public offering and initial listing on the Innovation Board. 2. The HCB101 licensing agreement has been disclosed in the 'Material Contracts' section of the prospectus. The Company has also issued a commitment letter stating that any future material transactions with Henlius will be reviewed and approved by the Audit Committee before being submitted to the Board of Directors. During Q2 of 115, there were no material transactions between the Company and Henlius. 3. The risks related to the U.S. Biosecurity Act have been disclosed in the 'Industry, Operations, and Other Key Risks' section of the prospectus. 4. The required statements have been clearly printed on the cover of the prospectus. Additionally, the Company has signed a commission agreement with the lead securities underwriter to assist in compliance with the securities laws and regulations of the Republic of China.
7. Other Matters to be Disclosed: None
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- Source: PR Times
- Category: News
- Products / services: HCB101