Nanjing Heron Pharmaceutical Science and Technology Co.,LTD announced that it has entered into an Directed Issuance Subscription Agreement for a private placement of 421,408 common shares at a price of CNY 47.46 per share for gross proceeds of CNY 20,000,023.68 on January 25, 2022. The transaction will include participation from Beijing Sun-Novo Pharmaceutical Research Co.,Ltd. to hold 0.74% stake in the company post the transaction. The transaction has been approved in the 15th meeting of the first board of directors of the investor.

Post the transaction, the total issued share capital of the company will increase from 52,670,869 shares to 56,884,945 shares.