Shen Lian Biomedical: UBI plans to reduce its holdings by no more than 3% of shares
Shen Lian Biomedical announced that United BioPharma, Inc. (UBI) plans to reduce its holdings by no more than 3% within the next three months to raise funds for the clinical trials and commercialization of an Alzheimer's vaccine. The specific reduction methods include reducing 4.1064 million shares through centralized bidding and reducing 8.2129 million shares through block trading
According to the Zhitong Finance APP, Shen Lian Biomedical (688098.SH) announced that United Biomedical, Inc. (referred to as "UBI") requires funding to advance its clinical trials for innovative drugs such as the synthetic peptide vaccine for Alzheimer's disease, commercial layout, and accelerate the construction of production bases related to synthetic peptides in cooperation with Chinese partners. UBI plans to reduce its holdings of 4.1064 million shares of the company through centralized bidding trading on the Shanghai Stock Exchange within three months after the announcement date, not exceeding 1% of the total shares of the company; and to reduce its holdings of 8.2129 million shares through block trading, not exceeding 2% of the total shares of the company
