GAITHERSBURG, Md., April 3,
2024 /PRNewswire/ -- YS Biopharma Co., Ltd. (Nasdaq:
YS) ("YS Biopharma" or the "Company"), 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 the full
repayment of the US$40,000,000 loan
borrowed under that certain facility agreement, dated March 16, 2022, between YishengBio (Hong Kong) Holdings Limited, a wholly-owned
subsidiary of the Company, and R-Bridge Healthcare Fund, LP, as
agent (the "Facility Agreement").
Dr. David Shao, Director,
President, and CEO of the Company, commented, "The repayment
represents a burden lifted from the shoulders of our company. With
the loan facility and its associated royalty obligations out of the
way, we can now devote more resources to executing on our business
plan, and move forward with an improved capital structure. This
enhanced strength will give us greater flexibility in our financial
operation and business operation strategies, and we are eager to
forge ahead now that our debt burden has been substantially
reduced."
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. 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.
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 those included under the heading "Risk
Factors" in the Company's most recent annual report on Form 20-F,
as well as discussions of potential risks, uncertainties and other
important factors in the Company's subsequent 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
Alyssa Li
Director of Investor Relations
Email: ir@yishengbio.com
Robin Yang
Partner, ICR, LLC
Tel: +1 (212) 537-4035
Email: YSBiopharma.IR@icrinc.com
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SOURCE YS Biopharma Co., Ltd.