LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) announced today that its shareholders have voted in favor of the proposed merger agreement, a significant step toward taking the company private. At an extraordinary general meeting held on June 19, 2026, approximately 92.3% of the company’s total outstanding ordinary shares voted, with about 86.2% of the votes cast approving the merger. The transaction, originally announced on November 4, 2025, and amended on April 29, 2026, involves Oceanpine Skyline Inc. as the parent company and Oceanpine Merger Sub Inc., which will merge into LakeShore Biopharma, leaving the company as a wholly owned subsidiary of Parent.
The merger's approval marks a pivotal moment for LakeShore Biopharma, a global biopharmaceutical company focused on vaccines and therapeutic biologics for infectious diseases and cancer. Upon completion, the company's shares and warrants will cease to be publicly traded on the OTC Pink tier and will be deregistered under Section 12 of the Securities Exchange Act of 1934. This transition to a privately held entity could provide the company with greater flexibility in executing its long-term strategies without the pressures of quarterly earnings expectations.
LakeShore Biopharma, previously known as YS Biopharma, has developed a proprietary PIKA® immunomodulating technology platform and a pipeline of preventive and therapeutic biologics targeting rabies, hepatitis B, influenza, and other viral infections. The company operates in China, Singapore, and the Philippines, and its management team combines local expertise with global industry experience. The merger is expected to support the company's continued development and commercialization efforts.
Completion of the merger remains subject to satisfaction or waiver of conditions outlined in the merger agreement. The company will work with the other parties to finalize the transaction in due course. Following the merger, LakeShore Biopharma will no longer be subject to public reporting requirements, a move that may reduce regulatory burdens and allow for more focused investment in research and development.
For more information about the company and its pipeline, visit https://investors.lakeshorebio.com/. Forward-looking statements in this release involve risks and uncertainties, including the possibility that the merger may not occur as planned, financing may not be available, or closing conditions may not be satisfied. These and other risks are detailed in the company's filings with the U.S. Securities and Exchange Commission.
