DL Holdings (HKG:1709) said C Capital AI agreed to invest $1.5 million in ARTi Holding through a pre-A funding round, according to a Thursday Hong Kong bourse filing.
The investor will subscribe for 500 new Class B shares, implying a pre-money valuation of $30 million for the artificial intelligence investment research platform.
Following the transaction, DL Holdings' stake in ARTi will be diluted to about 47.6% from 50%.
CF PharmTech (HKG:2652) said its inhalation formulation production base in Suzhou passed a good manufacturing practice inspection conducted by the drug regulator of a member country of the Pharmaceutical Inspection Convention and Pharmaceutical Inspection Co-operation Scheme, according to a Thursday Hong Kong bourse filing.The inspection covered the facility's production management and quality control systems, premises, equipment, data integrity, and computerized systems.Shares of the pharmaceutical firm were up over 1% in Friday morning trade.
Pharmaceutical company Lupin (NSE:LUPIN, BOM:500257) has received approval from the U.S. Food and Drug Administration for Ranluspec (ranibizumab-hkdz), an interchangeable biosimilar referencing Lucentis of Genentech.The US FDA has approved Ranluspec in both vials and pre-filled syringes in strengths of 0.3 mg (0.05 mL of 6 mg/mL) and 0.5 mg (0.05 mL of 10 mg/mL).The drug is used to treat adults with certain sight problems, including neovascular (wet) age-related macular degeneration, macular edema following retinal vein occlusion, diabetic macular edema, diabetic retinopathy, and myopic choroidal neovascularisation.
United Paragon Mining (PSE:UPM) completed the issuance of 3.2 billion common shares to Pargold Mining under its conversion program, according to a Friday Philippines Exchange filing.The shares, with a par value of 0.01 Philippine peso each, were issued in exchange for UPMC's outstanding liabilities as outlined in a May 29 Deed of Assignment.Following the deal, United Paragon Mining's Class A preferred shares were cancelled and converted into common shares.