Ascentage Pharma Group International (Ascentage Pharma) and Takeda Pharmaceuticals International AG (Takeda International) entered into an exclusive option agreement on June 14, 2024, where Takeda International is granted with an exclusive option to enter into an exclusive license agreement for HQP1351 (olverembatinib), a core drug candidate of Ascentage Pharma. In connection with such exclusive global arrangement, Ascentage Pharma and Takeda International also entered into a securities purchase agreement, pursuant to which Takeda International made a HK$585.77 million (US$75 million) equity investment in Ascentage Pharma to subscribe 24,307,322 shares of Ascentage Pharma at a purchase price of HK$24.09850 per share. The closing of such equity investment took place on June 20, 2024.

Ascentage Pharma is a globally focused biopharmaceutical company engaged in developing novel therapies for cancers, chronic hepatitis B (CHB), and age-related diseases.  Wilson Sonsini Goodrich & Rosati acted as the U.S. and Hong Kong counsel to Ascentage Pharma in connection with the above transactions. The Wilson Sonsini team was led by members Weiheng Chen, Steven Bernard, David Sharon and Winfield Lau, and included Emily Coskey, Varun Lella, Yesenia Rascon, Billy Yiu, and Kelly Cheng. 

For more information, please see press releases from Ascentage Pharma and Takeda.