November 23, 2020 – Shareholders of AnnJi and Allianz approved a merger agreement, under which AnnJi will acquire Allianz in a stock for stock transaction.

Dr. Wendy Huang, Chairman and CEO of AnnJi commented, “I am delighted about the acquisition of Allianz, which boasts a robust pipeline and is particularly strong in the translational research of new drug development. This merger not only introduces clinical stage assets to our pipeline, it further strengthens our talent pool and strategy to focus on neurological and dermatological diseases.”

Dr. Hardy Chan, Chairman and CEO of Allianz, will remain a member of the Scientific Advisory Board and continue to assist and advise the company in drug discovery and business development strategies. Dr. Chan commented, “I am pleased to partner with Dr. Huang and a company led by experienced drug development team. The merged company is now backed by a number of distinguished financial institutions in Taiwan whose continual support is critical and essential for the success of an emerging new drug developer, such as AnnJi.”

The merger has been fully endorsed by both companies’ board of directors and shareholders. It is anticipated to close before the end of 2020 subject to regulatory approvals.