Aptose's Closing of US$3M Investment by Hanmi Pharmaceutical
September 6, 2023
3.00 Million USD
On September 6, 2023, Aptose Biosciences Inc. ("Aptose") announced the closing of a US$3 million investment in common shares of the Company (the “Shares”) as the first tranche of a private equity investment for up to a maximum of $7 million or 19.99 percent ownership interest by Hanmi Pharmaceutical, Inc. (“Hanmi”), Seoul, South Korea. Under the terms of the strategic investment, Hanmi purchased each Share at a price of $4.488, representing a premium over Aptose’s common stock price. The investment will provide additional financing for Aptose’s lead hematology drug, tuspetinib, formerly HM43239, which was licensed from Hanmi in November 2021 and is currently in the APTIVATE international Phase 1/2 expansion trial in which patients with relapsed or refractory acute myeloid leukemia (R/R AML) receive tuspetinib monotherapy or in combination with venetoclax. Aptose has granted Hanmi certain rights pursuant to an investor rights agreement, including registration rights, pre-emptive rights, information rights and the right to appoint non-executive consultants.
Aptose is a clinical-stage biotechnology company developing precision medicines addressing unmet medical needs in oncology, with an initial focus on hematology.
McCarthy Tétrault assisted Aptose with a team led by Charles-Antoine Souliere that included Myreille Gilbert, Asma Boudoukha and Annie Poirier-Simard (Business).