HSINCHU, Taiwan and WUHAN, China, Feb. 12, 2018 /PRNewswire/ -- JHL Biotech, Inc. (TPEx: 6540) announces that today, Monday, February 12, 2018, is the final day for trading of JHL shares on the Emerging Stock Market of the Taipei Exchange ("TPEx"). JHL's Board of Directors believes the voluntary delisting is in the best interests of the company and its shareholders because it enables JHL to pursue planned expansion activities and to explore various fundraising strategies, including potentially listing on an overseas exchange.
TPEx approved JHL's application for voluntarily delisting on February 2. Under TPEx Approval Letter No.: 10700029171, JHL shares will officially cease trading as of February 17, 2018. However, due to market closure from February 13 - 20 for the Lunar New Year Holiday, February 12 is effectively the final day for trading of JHL shares on TPEx. During the period from February 17, 2018 to April 7, 2018, JHL will purchase the shares eligible for sale at the price of NT$63 per share, pursuant to relevant laws.
About JHL Biotech
JHL Biotech, Inc. is a biopharmaceutical startup founded by a group of industry veterans with deep experience in pharmaceutical development and operations. JHL is backed by premier financial firms, including Kleiner Perkins Caufield & Byers, Sequoia Capital, Biomark Capital, Milestone Capital, Fidelity, and the China Development Industrial Bank. JHL Biotech's mission is to provide the world with low-cost medicines of exceptional quality. JHL is focused on research and development of new protein-based therapies and biosimilars. JHL is developing proposed biosimilars to rituximab, dornase alfa, bevacizumab, and trastuzumab. JHL1101, JHL's proposed rituximab biosimilar, is undergoing clinical trials in the European Union. In addition to biosimilars, JHL also co-develops innovative new molecules and provides contract manufacturing services to select clients. JHL has two world-class facilities built in accordance with United States, European Union, and ICH cGMP regulations and standards. For more information, please visit www.jhlbiotech.com.
This press release contains forward-looking statements. Statements in this press release are not historical facts, including but not limited to the statements regarding JHL's future plans and its ability to complete the proposed Voluntary Delisting and maximize shareholder value, represent only the current expectations, assumptions, estimates and projections of the Company and are forward-looking statements. These forward-looking statements involve various risks and uncertainties. Important risks and uncertainties that could cause the actual results to be materially different from expectations include but are not limited to, capital markets conditions. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
SOURCE JHL Biotech, Inc.