ASLN - ASLAN Pharmaceuticals Announces it Has Filed for Voluntary Liquidation of Its Sole Operating Subsidiary and is Commencing Steps to Place Itself Into Voluntary Liquidation | Benzinga
- Following a thorough review of all strategic alternatives, ASLAN Pharmaceuticals Pte Ltd, the sole operating subsidiary of ASLAN Pharmaceuticals, has filed for voluntary liquidation
- Quantuma (Singapore) Pte Limited International has been appointed as the official liquidator and will seek potential strategic alternatives for the Company's development programs, eblasakimab and farudodstat
SAN MATEO, Calif. and SINGAPORE, July 17, 2024 (GLOBE NEWSWIRE) -- ASLAN Pharmaceuticals ("ASLAN" or the "Company"), a clinical-stage, immunology-focused biopharmaceutical company developing innovative treatments to transform the lives of patients, today announced that its Singapore-incorporated, sole operating subsidiary, ASLAN Pharmaceuticals Pte Ltd ("ASLAN SG"), has filed for voluntary liquidation. The decision follows a comprehensive review by the Board of the Company of ASLAN SG's financial position and strategic alternatives. Effective immediately, all employees of ASLAN SG and fellow subsidiary ASLAN Pharmaceuticals (USA) Inc. have been terminated.
By a resolution in writing passed by the directors of ASLAN SG on July 17, 2024, it was resolved that ASLAN SG cannot by reason of its liabilities continue its business, and Mr Luke Anthony Furler and Mr Tan Kim Han of Quantuma (Singapore) Pte Limited were appointed as joint and several provisional liquidators ("Provisional Liquidators") of ASLAN SG. The Provisional Liquidators will be responsible for the orderly winding up of ASLAN SG's affairs, including seeking potential strategic alternatives for its development programs and the Company's primary assets, eblasakimab and farudodstat, settling ...