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A group of marquee biotech players bet on a $ 350 million PhIII resurrection story for a heavyweight challenger – Endpoints News




Following a fall in shares in 2021 following a major FDA rejection, cancer biotechnology Athenex crashed into penny stock territory this year and is now looking to sell part of itself to make money.

The company has agreed to sell all its shares in its subsidiaries in China, which are mainly engaged in API production, to TiHe Capital (Beijing).

The estimated $ 19 million deal will see Athenex receive at least 70% of the proceeds upon termination, and the proceeds will be used to pay off existing debt and for general operations, the company said. However, Athenex and TiHe also plan to enter into a long-term supply agreement for the production and delivery of certain APIs, but were the mother of the details.



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