ASLAN Pharmaceuticals Announces $20M Private Placement Led by BVF Partners L.P. With the Potential to Receive Up to an Additional $80M

SAN MATEO, Calif. and SINGAPORE, Feb. 24, 2023 (GLOBE NEWSWIRE) — ASLAN Pharmaceuticals (“ASLAN”, Nasdaq:ASLN), a clinical-stage, immunology-focused biopharmaceutical company developing innovative treatments to transform the lives of patients, today announced that it has entered into a definitive purchase agreement (“Purchase Agreement”) to raise gross proceeds of approximately $20 million resulting from the sale of its ordinary shares (or pre-funded warrants) and accompanying purchase warrants, at a purchase price of $0.178 per ordinary share (or the equivalent of $0.89 per American Depositary Share (“ADS”)) to BVF Partners L.P., K2 HealthVentures and certain existing investors (the “Investors”). In addition, ASLAN will have the potential to receive up to an additional $80 million if all purchase warrants being issued in connection with the Purchase Agreement are fully exercised.

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