GAITHERSBURG, Md., May 7, 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 that it will hold an
Extraordinary General Meeting of the Company (the "EGM")
at the 35th Floor, Two Exchange Square, 8 Connaught
Place, Central, Hong Kong, at 9:00
a.m. on May 21, 2024
(Hong Kong time), with an option
for Zoom dial-in.
The close of business on May 10, 2024
(Eastern Time) has been fixed as the record date of ordinary
shares of the Company, par value $0.00002 per share. Holders of record of the
Company's ordinary shares as of the record date shall be entitled
to attend and vote at the EGM and any adjourned meeting thereof.
The purpose of the EGM is for the Company's shareholders to approve
several resolutions, including (i) a change of the Company's name
from YS Biopharma Co., Ltd. to LakeShore Biopharma Co., Ltd., (ii)
the appointment of director candidates, and (iii) the adoption of
the proposed 2024 Share Incentive Plan, among others.
In addition, the board of directors of the Company (the "Board")
has approved the appointment of Mr. Dave
Chenn as the Interim Chief Executive Officer of the Company
(the "Interim CEO"), as well as the appointment of Dr. Hui Shao, the then-current Chief Executive
Officer of the Company, as the Co-Chief Executive Officer and Chief
Business Officer of the Company, each effective on May 2, 2024.
Mr. Chenn has over two decades of exceptional leadership and
tremendous management experience in the technology, finance, and
healthcare industries, with a profound ability to drive innovation
and business growth within these sectors. In 2018, he founded
Oceanpine Capital ("Oceanpine"), an investment management firm
which invests in innovative growth companies within the TMT and
healthcare sectors in both China
and the United States, also the
leading investor in the Series B financing of YS Biopharma in 2021.
Mr. Chenn currently serves as Chief Executive Officer and Managing
Partner of Oceanpine. Prior to founding Oceanpine, in 2005, Mr.
Chenn founded China Century Group, a Beijing-based multinational company that
focuses on the technology, hospitality, healthcare, and finance
sectors. He also founded several of China Century Group's
subsidiaries which operate in China, Southeast
Asia, and the United
States. Prior to founding China Century Group, Mr. Chenn
spent five years working for Oracle at their Silicon Valley
headquarters. Mr. Chenn also holds several councillorships and
advisory positions. He is a Council Member and Advisory Board
Member at the University of Chicago's
Booth School of Business, Vice Chairman of the Board of Directors
of the Beijing Institute of Technology, and a Vice Chairman of
China's Green Energy Fund, among
several other positions. Mr. Chenn has also been recognized for his
philanthropic and entrepreneurial achievements, and been named a
Top Ten Reformer of China's Growth
in 2017, an Innovation Leader of China's Economy in 2016, one of China's Top Ten Biopharma Investors in 2020,
and one of China's Top 50
Investors in 2020. Mr. Chenn holds an MBA from the University of Chicago's Booth School of Business,
and a BS from the Beijing Institute of Technology.
The Notice of the EGM and related form of proxy (collectively
the "EGM Notice"), which sets forth the resolutions to be submitted
to shareholder approval at the meeting, are available on the
Company's website at https://investor.ysbiopharma.com/. The EGM
Notice contains the details of the Zoom dial-in and instructions on
how to vote for the EGM.
About YS Group
YS Group is a global biopharmaceutical company
dedicated to discovering, developing, manufacturing, and delivering
new generations of vaccines and therapeutic biologics for
infectious diseases and cancer. It has developed a proprietary
PIKA® immunomodulating technology platform and a
new generation of preventive and therapeutic biologics targeting
Rabies, Coronavirus, Hepatitis B, Influenza, Shingles, and other
virus infections. 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 biopharmaceutical industry. For more information,
please visit investor.ysbiopharma.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 YS Biopharma, the development progress of all product
candidates, the progress and results of all clinical trials, YS
Biopharma's ability to source and retain talent, and the cash
position of YS Biopharma. 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 the forward-looking statements in
this press release will 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
Post-effective Amendment No. 2 to the Company's Registration
Statement on Form F-1 filed with the SEC on January 23, 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
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.