ASLAN Announces Launch Of Competitive Auction On 10 May 2017
Singapore and Taipei, Taiwan, 9 May 2017 – ASLAN Pharmaceuticals (ASLAN; 6497.TT), a biotech company focused on the development of immunotherapies and targeted agents for Asia prevalent tumour types, today announced that it will conduct a competitive auction and public offer of common shares for its initial listing on Taipei Exchange (TPEx).
ASLAN will offer 13,012,000 shares to the public, of which 10,409,000 shares will be offered via competitive auction and 2,602,000 shares shall be for public subscription when the competitive auction ends. KGI will be the Lead Underwriter for the auction.
The competitive auction will be held between 10 - 12 May 2017. The number of the total shares to be offered is 10,409,000. The minimum bid price is NT$64 per share, and the minimum bidding unit is 1,000 shares. The winning bids will be decided by American auction format. The bid opening will take place on 16 May 2017. ASLAN expects to start trading on TPEx in early June 2017.
The public subscription will begin on 18 May 2017. The price for public subscription will be based on the weighted average of all successful bids from the competitive auction. The ceiling price will be 1.25 times the minimum bid price, or NT$80.
ASLAN currently has a pipeline of five novel compounds and one modybodies platform, focusing on the treatment of Asia-prevalent tumours. Its lead asset, varlitinib, has commenced a global pivotal study in biliary tract cancer following the Investigational New Drug approval from the US Food & Drug Administration. Led by a team of highly-experienced industry veterans with a strong track record in clinical development, ASLAN has been able to generate revenues through two outlicensing deals, attract international institutional investors, and forge strong partnerships with world-leading research institutions and international biopharmaceutical companies.
Chris Fang
ASLAN Pharmaceuticals
Tel: +886 2 2757 6700
E-mail: investor@aslanpharma.com
Emma Thompson / Stephanie Tan
Spurwing Communications
Tel: +65 6340 7287
Email: ASLAN@spurwingcomms.com
About varlitinib (ASLAN001)
Varlitinib (ASLAN001) is a potent small molecule inhibitor of the HER-family of receptor tyrosine kinases (RTKs). The type I RTK family consists of four distinct but closely related receptors: epidermal growth factor receptor (EGFR, ErbB1, HER1), epidermal growth factor receptor 2 (HER2, ErbB2), epidermal growth factor receptor 3 (HER3, ErbB3), and epidermal growth factor receptor 4 (HER4, ErbB4). Varlitinib is a potent, reversible, small molecule inhibitor of EGFR, HER2 and HER4. In a large variety of cancers, the overexpression and/or constitutive activation of EGFR and HER2 are often observed and frequently correlate with poor clinical prognosis. Therefore, by inhibiting the activation of the HER receptors via varlitinib, effects such as shrinkage of the tumour and longer survival can be anticipated. Varlitinib is currently being studied in biliary tract, breast and gastric cancers. Varlitinib has been granted orphan drug status in the USA for cholangiocarcinoma and gastric cancer and was awarded orphan drug status for the treatment of advanced biliary tract cancer after first line systemic therapy by the Korean MFDS.
About ASLAN Pharmaceuticals
ASLAN Pharmaceuticals is an oncology focused biotechnology company developing a portfolio of immunotherapies and targeted drugs, focusing on Asia prevalent tumour types. Led by a highly experienced management team with global pharmaceutical expertise, ASLAN is headquartered in Singapore with a platform that reaches across the region via its offices in Taiwan, China and Australia, enabling the Company to conduct and support regional clinical development programmes. The Company is developing 5 drugs addressing multiple indications including biliary tract cancer, gastric cancer and breast cancer. ASLAN has several compounds in late stage development: varlitinib (ASLAN001), a pan-HER inhibitor which has completed phase 2 studies in gastric and breast cancer, and is entering pivotal studies for biliary tract cancer; and ASLAN002 (partnered with BMS), a RON and cMET inhibitor in phase 2 development for gastric and breast cancer. www.aslanpharma.com
ASLAN will offer 13,012,000 shares to the public, of which 10,409,000 shares will be offered via competitive auction and 2,602,000 shares shall be for public subscription when the competitive auction ends. KGI will be the Lead Underwriter for the auction.
The competitive auction will be held between 10 - 12 May 2017. The number of the total shares to be offered is 10,409,000. The minimum bid price is NT$64 per share, and the minimum bidding unit is 1,000 shares. The winning bids will be decided by American auction format. The bid opening will take place on 16 May 2017. ASLAN expects to start trading on TPEx in early June 2017.
The public subscription will begin on 18 May 2017. The price for public subscription will be based on the weighted average of all successful bids from the competitive auction. The ceiling price will be 1.25 times the minimum bid price, or NT$80.
ASLAN currently has a pipeline of five novel compounds and one modybodies platform, focusing on the treatment of Asia-prevalent tumours. Its lead asset, varlitinib, has commenced a global pivotal study in biliary tract cancer following the Investigational New Drug approval from the US Food & Drug Administration. Led by a team of highly-experienced industry veterans with a strong track record in clinical development, ASLAN has been able to generate revenues through two outlicensing deals, attract international institutional investors, and forge strong partnerships with world-leading research institutions and international biopharmaceutical companies.
Chris Fang
ASLAN Pharmaceuticals
Tel: +886 2 2757 6700
E-mail: investor@aslanpharma.com
Emma Thompson / Stephanie Tan
Spurwing Communications
Tel: +65 6340 7287
Email: ASLAN@spurwingcomms.com
About varlitinib (ASLAN001)
Varlitinib (ASLAN001) is a potent small molecule inhibitor of the HER-family of receptor tyrosine kinases (RTKs). The type I RTK family consists of four distinct but closely related receptors: epidermal growth factor receptor (EGFR, ErbB1, HER1), epidermal growth factor receptor 2 (HER2, ErbB2), epidermal growth factor receptor 3 (HER3, ErbB3), and epidermal growth factor receptor 4 (HER4, ErbB4). Varlitinib is a potent, reversible, small molecule inhibitor of EGFR, HER2 and HER4. In a large variety of cancers, the overexpression and/or constitutive activation of EGFR and HER2 are often observed and frequently correlate with poor clinical prognosis. Therefore, by inhibiting the activation of the HER receptors via varlitinib, effects such as shrinkage of the tumour and longer survival can be anticipated. Varlitinib is currently being studied in biliary tract, breast and gastric cancers. Varlitinib has been granted orphan drug status in the USA for cholangiocarcinoma and gastric cancer and was awarded orphan drug status for the treatment of advanced biliary tract cancer after first line systemic therapy by the Korean MFDS.
About ASLAN Pharmaceuticals
ASLAN Pharmaceuticals is an oncology focused biotechnology company developing a portfolio of immunotherapies and targeted drugs, focusing on Asia prevalent tumour types. Led by a highly experienced management team with global pharmaceutical expertise, ASLAN is headquartered in Singapore with a platform that reaches across the region via its offices in Taiwan, China and Australia, enabling the Company to conduct and support regional clinical development programmes. The Company is developing 5 drugs addressing multiple indications including biliary tract cancer, gastric cancer and breast cancer. ASLAN has several compounds in late stage development: varlitinib (ASLAN001), a pan-HER inhibitor which has completed phase 2 studies in gastric and breast cancer, and is entering pivotal studies for biliary tract cancer; and ASLAN002 (partnered with BMS), a RON and cMET inhibitor in phase 2 development for gastric and breast cancer. www.aslanpharma.com