Aadi Bioscience Enters Into Multiple Strategic Agreements, Including $100M Stock Purchase and License Agreement

Aadi Bioscience, Inc. (NASDAQ: AADI) has recently made significant strides in its business development through the execution of multiple strategic agreements. These agreements include a Stock Purchase Agreement (Purchase Agreement) and a License Agreement, both of which are set to shape the company’s future growth and operations.

The Purchase Agreement, inked on December 19, 2024, involves Aadi Bioscience, Inc., KAKEN INVESTMENTS INC., KAKEN PHARMACEUTICAL CO., LTD., and Aadi Subsidiary, Inc. This deal outlines that KAKEN will acquire 100% of the outstanding shares of Aadi’s subsidiary, Private Aadi, for a purchase price of $100,000,000, subject to customary adjustments.

Additionally, Aadi has entered into a License Agreement with WuXi Biologics, securing exclusive rights to certain patents and know-how related to pre-clinical antibody-drug conjugate programs. As per this agreement, Aadi will make upfront and milestone payments totaling up to $805 million, including royalties on product sales.

Furthermore, to fund these endeavors, Aadi has initiated a Subscription Agreement with several purchasers, collectively contributing $100 million. This private investment in public equity (PIPE) financing will enable Aadi to strengthen its financial position and advance its strategic initiatives.

In conjunction with these developments, the company has also appointed Dr. Baiteng Zhao to its Board of Directors. Dr. Zhao brings a wealth of experience in the biotech industry, having co-founded ProfoundBio and served as its CEO until its acquisition for $1.8 billion. His expertise is expected to be instrumental in guiding Aadi’s future trajectory.

These recent agreements reflect Aadi Bioscience’s commitment to expanding its portfolio, enhancing its research and development capabilities, and positioning itself for future growth opportunities. The company’s strategic moves are aimed at establishing a strong foothold in the competitive biotech landscape and creating value for its stakeholders.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Aadi Bioscience’s 8K filing here.

Aadi Bioscience Company Profile

Aadi Bioscience, Inc, a biopharmaceutical company, engages in developing and commercializing precision therapies for genetically defined cancers with alterations in mTOR pathway genes. Its lead drug product candidate comprises FYARRO, a form of sirolimus protein-bound particles for injectable suspension for the treatment in adult patients with advanced unresectable or metastatic malignant PEComa.