Hanmi Pharmaceutical Completes Acquisition of Aptose... Tuspetinib Rights Reclaimed

"Acquisition Completed in Fulfillment of Prior Contractual Obligations"

Hanmi Pharmaceutical has finalized the acquisition of Aptose Biosciences, a North American biotech company specializing in anticancer drug development.

According to the pharmaceutical industry on July 6, Hanmi Pharmaceutical has completed the acquisition of 100% of Aptose Biosciences' shares. Aptose was the company to which Hanmi Pharmaceutical had previously out-licensed its anticancer drug candidate "Tuspetinib" in 2021. As a result, the substantive rights to Tuspetinib have now reverted to Hanmi Pharmaceutical. The total funds used for the acquisition amounted to over 70 billion won, including approximately 56.8 billion won previously loaned to Aptose.

This acquisition is the result of fulfilling contractual obligations made by former management last year. The current board of directors plans to assess the future value of Aptose’s assets following the acquisition and determine the direction of further development. The board is reportedly reviewing the acquisition process and re-evaluating the substantive development value of the reacquired anticancer drug assets.

A representative from Hanmi Pharmaceutical stated, "The acquisition was successfully carried out according to the previous contract, and depending on the results of the asset evaluation after the acquisition, there may be additional financial impacts in the future." The representative added, "Specific outcomes of the asset evaluation and development plans will be released through regular public disclosures."

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