TiHe Capital (Beijing) Co. Ltd. agreed to acquire Chongqing Taihao Pharmaceutical Co., Ltd. and Athenex Pharmaceuticals (Chongqing) Limited from Athenex, Inc. (NasdaqGS:ATNX) for approximately CNY 130 million on July 7, 2022. At the closing of this transaction, TiHe Capital will pay at least 70% of the Purchase Price to Athenex.

The remainder of the Purchase Price will be paid in cash, with 20% of the Purchase Price to be paid within three months after the closing Date and the remaining balance of the Purchase Price to be paid within six months after the closing Date. The closing of this transaction is subject to closing conditions, including obtaining the approval of CQ and the consent of certain governmental authorities in China, and other customary closing conditions. Either party may terminate the Agreement if closing has not occurred by September 30, 2022, or a later date as agreed upon by TiHe Capital and Athenex.

The transaction is expected to close in the fourth quarter of 2022.