ImmuneOnco Biopharmaceuticals Completes Disposal of Subsidiary; Shares Plunge 15%

MT Newswires Live

Feb 24, 2025

ImmuneOnco Biopharmaceuticals (Shanghai) (HKG:1541) completed the sale of its subsidiary, Shanghai Zhangtou Yaoxin Technology Development, to Shanghai Zhangjiang Group, according to a Friday Hong Kong bourse filing.

The biopharmaceutical firm has already received the first two payment installments of 66.2 million yuan and is set to receive the last one within 10 business days from the date on which the adjusted amount is determined.

The disposal was first announced on Dec. 30, 2024, with ImmuneOnco agreeing to sell the subsidiary for up to 98.2 million yuan.

Shanghai Zhangtou Yaoxin Technology Development was formed to hold an industrial property-holding company in Shanghai.

Shares of the company were down nearly 15% in recent trade.

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