Modalis Therapeutics Corporation announced a private placement it will issue 78,248 12th stock acquisition rights at a price of ¥240 per share of gross proceeds for ¥18,779,520 on September 11, 2023. The transaction included the participation from new investor CS Asia Opportunities Master Fund, a fund managed by China Silver Asset Management Hong Kong Limited issue 11,158,133 shares and owns 26.13% stake. The securities issued through third party allotment.

The company held that the transaction was approved at a meeting of the Company's Board of Directors. The transaction is expected to closing on September 27, 2023.