Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited disclaim responsibility for the contents of the announcement, noting that it does not constitute an offer or invitation for share acquisition. The company’s shares involved have not been registered under the U.S. Securities Act of 1933, and no public offering is intended in the United States.

CANbridge Pharmaceuticals Inc. (北海康成製藥有限公司, Stock Code: 1228) (“CANbridge Pharmaceuticals”) announced on February 15, 2026, a Subscription Agreement with WuXi Biologics Healthcare Venture (“the Subscriber”). Under this agreement, CANbridge Pharmaceuticals has conditionally agreed to issue 84.03 million new shares at HK$2.38 per share, representing approximately 16.44% of the company’s existing issued shares.

The subscription price of HK$2.38 reflects a discount of about 14.70% to the HK$2.79 closing price on February 13, 2026, and about 19.81% to the average closing price of HK$2.97 over the five consecutive trading days prior to that date. Gross proceeds are expected to be HK$200.00 million, while net proceeds, estimated at HK$199.00 million, reflect a net issue price of HK$2.37 per share.

The funds are earmarked for multiple purposes: 12% of the net proceeds for working capital and registration maintenance of commercialized products in 2027, 28% for research and development expenses of existing product pipelines in 2027, and 60% for settling trade payables in 2026. CANbridge Pharmaceuticals intends to list the new subscription shares on The Stock Exchange of Hong Kong Limited, subject to related approvals and permission. Completion is also dependent on several conditions precedent, including the Stock Exchange’s listing approval and applicable regulatory filings.

The Subscriber is a limited partnership under Hong Kong law, wholly owned by WuXi Biologics (Cayman) Inc. (藥明生物技術有限公司). Before this agreement, the Subscriber held approximately 2.51% of CANbridge Pharmaceuticals’ existing issued share capital. Upon completion, and assuming no changes in the total number of issued shares before closing, Subscriber’s shareholding will increase to about 16.27%.

This proposed subscription will utilize CANbridge Pharmaceuticals’ existing general mandate, as approved at an extraordinary general meeting on December 4, 2025. The company has previously raised HK$98.66 million and HK$22.09 million in August and September 2025, respectively, for research and development, marketing, repayment of financial obligations, and day-to-day operations.

Closing of the agreement is subject to final fulfillment or waiver (where permissible) of stipulated conditions. Shareholders and investors are advised to exercise caution when dealing in CANbridge Pharmaceuticals’ shares.