GAITHERSBURG, Md., Feb. 14,
2024 /PRNewswire/ -- YS Biopharma Co., Ltd. (Nasdaq:
YS) ("YS Biopharma"), a global biopharmaceutical company dedicated
to discovering, developing, manufacturing, and delivering new
generations of vaccines and therapeutic biologics for infectious
diseases and cancer, today announced that the Company received
a requisition to convene an extraordinary general meeting
("EGM") of the Company (the "Requisition") from APEX
Prospect Limited (the "Requisitioning Shareholder"), a
registered member of the Company that holds no less than 10% of the
aggregate voting power of the Company's share capital as of
February 12, 2024.
In the Requisition, the proposed meeting agenda for the EGM
includes: (i) to reaffirm the appointment of each of Haitao Zhao, Henry
Chen, Pierson Yue Pan,
Yuntao Cui, Jin Wang, Chunyuan
(Brenda) Wu as a member of the Board of Directors of the
Company (the "Board"); (ii) to conduct an independent
investigation of any alleged misconduct and/or illegal
activities of the Company caused by or under the control of Mr.
Yi Zhang, the former chairperson of
the Board; (iii) to take immediate actions to strengthen the
Company's corporate governance and internal control and management
as advised by counsel and other professionals; and (iv) to remove
Mr. Yi Zhang from all positions with
the Company and any subsidiaries of the Company, including without
limitation as director, officer and/or legal representative.
The Board had reviewed the Requisition and decided to convene an
EGM (the "Proposed EGM") at 35th Floor, Two Exchange Square,
8 Connaught Place Central, Hong
Kong on February 22, 2024 at
9:00 a.m. (Hong Kong time). The Board resolved to convene
the Proposed EGM to consider and vote on the resolutions proposed
by the Requisitioning Shareholder. A copy of the notice of the
Proposed EGM posted to the Company's website, a form of the voting
proxy for the Proposed EGM and a copy of the Requisition is
attached as Exhibit 99.2, Exhibit 99.3 and Exhibit 99.4,
respectively, to the Current Report on Form 6-K furnished by the
Company with the United States Securities and Exchange Commission
today. If you wish to virtually attend the Proposed EGM, you are
encouraged to contact the Company via email at
YSBiopharma.IR@icrinc.com.
About YS Biopharma
YS Biopharma is a global biopharmaceutical company dedicated to
discovering, developing, manufacturing, and commercializing new
generations of vaccines and therapeutic biologics for infectious
diseases and cancer. It has developed a proprietary PIKA®
immunomodulating technology platform and a series of preventive and
therapeutic biologics with a potential for improved Rabies,
Coronavirus, Hepatitis B, Influenza, and Shingles vaccines. YS
Biopharma operates in China,
the United States, Singapore and the
Philippines, and is led by a management team that combines
rich local expertise and global experience in the
bio-pharmaceutical industry. For more information, please visit
investor.ysbiopharm.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements'' within
the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical or current fact
included in this press release are forward-looking statements,
including but not limited to statements regarding the expected
growth of the Company, the development progress of all product
candidates, the progress and results of all clinical trials, the
Company's ability to source and retain talent, and the cash
position of the Company following the closing of the Business
Combination. Forward-looking statements may be identified by the
use of words such as "estimate," "plan," "project," "forecast,"
"intend," "will," "expect," "anticipate," "believe," "seek,"
"target" or other similar expressions that predict or indicate
future events or trends or that are not statements of historical
matters. These statements are based on various assumptions, whether
identified in this press release, and on the current expectations
of YS Biopharma's management and are not predictions of actual
performance.
These statements involve risks, uncertainties and other factors
that may cause actual results, levels of activity, performance, or
achievements to be materially different from those expressed or
implied by these forward-looking statements. Although YS Biopharma
believes that it has a reasonable basis for each forward-looking
statement contained in this press release, YS Biopharma cautions
you that these statements are based on a combination of facts and
factors currently known and projections of the future, which are
inherently uncertain. In addition, there are risks and
uncertainties described in the documents filed by YS Biopharma from
time to time with the U.S. Securities and Exchange Commission
("SEC"). These filings may identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements.
YS Biopharma cannot assure you that the forward-looking
statements in this press release will prove to be accurate. These
forward-looking statements are subject to a number of risks and
uncertainties, including, among others, the outcome of any
potential litigation, government or regulatory proceedings, the
sales performance of the marketed vaccine product and the clinical
trial development results of the product candidates of YS
Biopharma, and other risks and uncertainties, including those
included under the heading "Risk Factors" in the post-effective
amendment No. 2 to Form F-1 filed with the SEC on January 23, 2024 which became effective on
January 25, 2024, and other filings
with the SEC. There may be additional risks that YS Biopharma does
not presently know or that YS Biopharma currently believes are
immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. In light of the
significant uncertainties in these forward-looking statements,
nothing in this press release should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. The
forward-looking statements in this press release represent the
views of YS Biopharma as of the date of this press release.
Subsequent events and developments may cause those views to change.
However, while YS Biopharma may update these forward-looking
statements in the future, there is no current intention to do so,
except to the extent required by applicable law. You should,
therefore, not rely on these forward-looking statements as
representing the views of YS Biopharma as of any date subsequent to
the date of this press release. Except as may be required by law,
YS Biopharma does not undertake any duty to update these
forward-looking statements.
Investor Relations Contact
Robin Yang
Partner, ICR, LLC
Tel: +1 (212) 537-4035
Email: YSBiopharma.IR@icrinc.com
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