LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) announced today that at an extraordinary general meeting of shareholders, approximately 92.3% of the total outstanding ordinary shares voted, with 86.2% of the votes cast approving the previously announced merger agreement with Oceanpine Skyline Inc. and its wholly owned subsidiary, Oceanpine Merger Sub Inc. The merger, initially disclosed on November 4, 2025, and amended on April 29, 2026, will result in Merger Sub merging into LakeShore Biopharma, making the company a wholly owned subsidiary of Parent and ceasing to be a publicly traded entity.
The approval marks a significant milestone in the company's transition to private ownership. Upon consummation, LakeShore Biopharma's shares and warrants will no longer be listed on any public market, including the OTC Pink tier of the OTC Markets, and will cease to be registered under Section 12 of the Securities Exchange Act of 1934. The company stated it will work with the other parties to satisfy or waive the remaining conditions set forth in the merger agreement to complete the transaction in due course.
This development is important for stakeholders as it signals the end of LakeShore Biopharma's public trading period and a strategic shift in its corporate structure. The company, previously known as YS Biopharma, focuses on developing vaccines and therapeutic biologics for infectious diseases and cancer, leveraging its proprietary PIKA® immunomodulating technology platform. Its pipeline includes candidates targeting Rabies, Hepatitis B, Influenza, and other viral infections, with operations in China, Singapore, and the Philippines.
The merger underscores the growing trend of biopharmaceutical companies opting to go private, often to pursue long-term strategies without the pressures of quarterly earnings reports and public market scrutiny. For LakeShore Biopharma, this move could facilitate access to private capital and allow management to focus on R&D and commercialization efforts. The company's management team combines local expertise and global experience, which may be crucial in navigating the complex biopharmaceutical landscape.
Forward-looking statements in the press release highlight risks that could affect the merger's completion, including the possibility of termination, financing availability, and the satisfaction of closing conditions. The company cautions that actual results may differ materially from those anticipated. Investors are directed to the Schedule 13E-3 and proxy statement filed with the SEC for more detailed risk factors.
For additional information about the company and its pipeline, visit https://investors.lakeshorebio.com/. The original press release was distributed by NewMediaWire and can be accessed at www.newmediawire.com.
