TYK MEDICINES-B (02410) has announced that its share subscription agreement with Qilu, linked to a licensing and collaboration deal, has lapsed. The agreement concerned the proposed issue of 63.22 million new H shares to the subscriber, which was conditional upon certain conditions being fulfilled or waived. If those conditions remained unmet by the revised deadline of 20 September 2026, the agreement would have been terminated.
As of the date of this announcement, several pre-conditions outlined in the subscription agreement had still not been met or waived. After reviewing the prevailing market conditions and recent fluctuations in the company's share price, both TYK MEDICINES-B and Qilu have mutually agreed not to prolong the extended final deadline any further. Consequently, the subscription agreement has automatically ceased to be effective at the conclusion of that revised cut-off date, which was 20 September 2026. Following this expiry, neither party bears any further obligations or liabilities under the agreement unless a prior breach has occurred.
In respect of the licensing and collaboration agreement, as well as the supply and commercialization agreement disclosed earlier, both Qilu and the company will continue to adhere to their respective commitments under these contracts. The board believes that the lapse of the subscription agreement will not result in any notable adverse impact on the group's operational activities or financial position. Despite the setback, both parties maintain a mutual interest in pursuing a future share issuance subscription, although the specific terms are still under discussion.
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