Mycenax Biotech Inc. announced that it will receive gross proceeds of TWD 261,399,112,761 on July 27, 2022. The transaction will include participation from JCR Pharmaceuticals Co., Ltd for 42,000,000 shares for gross proceeds of TWD 1,399,112,761 and Center Laboratories, Inc. for 8,000,000 shares at a price of TWD 32.5 per share for proceeds of TWD 260,000,000. On closing, JCR Pharmaceuticals Co., Ltd will hold 20.48% stake and Center Laboratories, Inc. will hold 21.9% stake in the company.

The transaction has been approved by the board of the directors of the investor. The transaction is subject to approval for foreign investment by Taiwanese authorities. The transaction is expected to close within 15 days after approval for foreign investment by Taiwanese authorities.