Hanmi Pharmaceutical said Wednesday it has completed its acquisition of Aptose Biosciences, a North American biotech specializing in cancer drug development. The acquisition follows the fulfillment of contractual obligations signed by management last year.
Aptose is the company to which Hanmi Pharmaceutical licensed out its cancer drug candidate "tuspetinib" in 2021. With the completion of the acquisition, the substantive rights to the candidate return to Hanmi Pharmaceutical. A total of about 70 billion won is known to have been invested in the acquisition, including approximately 56.8 billion won in loans previously provided to Aptose.
Alongside the acquisition, Hanmi Pharmaceutical has also begun a comprehensive valuation of the assets it secured. The board plans to review the development potential and business viability of the reacquired assets, including tuspetinib, and to decide the future development direction based on the assessment results.
"The acquisition under the past contract proceeded successfully, and depending on the results of the post-acquisition asset valuation, additional financial impact may arise going forward," a Hanmi Pharmaceutical official said. "Specific asset valuation results and development plans will be disclosed through regular filings and other channels."
