AnHeart Therapeutics Ltd. (“AnHeart”), a global clinical-stage biopharmaceutical company developing novel precision therapies for people with cancer, and Nuvation Bio Inc. (NYSE: NUVB), a biopharmaceutical company tackling some of the greatest unmet needs in oncology by developing differentiated and novel therapeutic candidates, announced that the companies have entered into a definitive agreement for Nuvation Bio to acquire AnHeart in an all-stock transaction on March 25^th, 2024. The Acquisition is expected to close in the second quarter of 2024 subject to other customary closing conditions. Immediately following the closing of the acquisition, the former shareholders of AnHeart will own approximately 33% and the current stockholders of Nuvation Bio will own approximately 67% of Nuvation Bio on a fully diluted basis. AnHeart will become a wholly-owned subsidiary of Nuvation Bio. Fangda acted as AnHeart’s PRC legal counsel and provided comprehensive legal services to AnHeart in the transaction.

AnHeart Therapeutics is a global clinical-stage biopharmaceutical company developing novel precision therapies for people with cancer. AnHeart’s lead investigational therapy, taletrectinib, is a next-generation ROS1-inhibitor currently in pivotal Phase 2 trials for ROS1-positive non-small cell lung cancer (NSCLC). Taletrectinib has been granted Breakthrough Therapy Designations by both the U.S. Food and Drug Administration (FDA) and the China National Medical Products Administration (NMPA).

Nuvation Bio is a biopharmaceutical company tackling some of the greatest unmet needs in oncology by developing differentiated and novel therapeutic candidates. Nuvation Bio’s proprietary portfolio includes mechanistically distinct oncology therapeutic product candidates, each targeting some of the most difficult-to-treat types of cancer. Nuvation Bio was founded in 2018 by biopharma industry veteran David Hung, M.D., who previously founded Medivation, Inc., which brought to patients one of the world’s leading prostate cancer medicines.

The Fangda team was led by Corporate partners Josh Shin, Chen Lu and Henry He. Tax partner Yan Zhao and counsel Linlin Cao also provided related advice. Team members included Bingyan Xu, Elisa Liu, Rui Miao, Shanshan Song and Vincent Chen.