Summary by Moomoo AI
Rong Cheong Bios announced that it will issue A shares to select entities in 2024, with a total of no more than RMB 255 billion to invest in new drug R&D projects. The company focuses on innovative biopharmaceuticals with multiple core technology platforms and a range of candidate biopharmaceutical products. The funds raised will be used to accelerate clinical trials and market registrations of investigational products and boost the company's R&D capabilities in the fields of oncology, autoimmune diseases and ophthalmology. RONG CHANG BIO'S FUNDRAISING PROGRAM IS IN LINE WITH THE NATIONAL INDUSTRY POLICY AND AIMS TO ENHANCE THE COMPANY'S LEVEL OF TECHNOLOGY INNOVATION AND PRODUCT COMPETITIVENESS, AND PROMOTE SUSTAINABILITY. The crowdfunding project was announced on 29 March 2024 and implemented by the Company and its wholly-owned subsidiary Shanghai Rongchang Biotechnology Co., Ltd.