Jacobio Pharma (1167.HK) announced that its subsidiary, Beijing Jacobio Pharmaceuticals Co., Ltd., has signed a Capital Increase and Equity Transfer Agreement with Oceanpine Capital and an unnamed industry partner.
Under the terms of the deal, Oceanpine Capital will acquire an 80% equity stake in Beijing Jacoray Pharmaceutical Technology Co., Ltd. (“Jacoray”) for a total consideration of RMB 200 million. The payment includes RMB 125 million upfront and an additional RMB 75 million as a milestone-based second installment. Upon completion, Jacobio will retain 10% of Jacoray, while the remaining 10% will be held by the industry partner.
Jacoray serves as the project company for Jacobio’s early-stage cardiovascular research program. The divestment is part of Jacobio’s broader strategy to focus on its core oncology pipeline, including its Pan-KRAS inhibitor and other novel cancer therapies. The company said the transaction will help optimize capital allocation, improve operational efficiency, and implement a risk-sharing model to preserve long-term project value.
“The partnership with Oceanpine Capital strengthens our strategic focus on oncology innovation and reinforces our commitment to advancing next-generation cancer therapies,” said Dr. Yinxiang Wang, Chairman of Jacobio.
Dave Chenn, Founder, CEO, and Managing Partner of Oceanpine Capital, praised Jacobio’s scientific capabilities, stating: “Jacobio demonstrates outstanding scientific strength and strategic focus in oncology innovation. Oceanpine Capital looks forward to partnering with Jacobio to advance the globalization of China’s biotech innovation.”
Jacobio confirmed that proceeds from the transaction will primarily support the research, development, production, and commercialization of its oncology portfolio.