FibroGen sells China ops to AstraZeneca for ~$160M; cash runway to 2027

KYNTRA BIO, INC.

Purchase price: $85M enterprise value plus net China cash (~$75M) for total ~$160M.
Transaction expected to close by mid-2025, subject to China regulatory approval.
Proceeds will repay ~$80M term loan to Morgan Stanley Tactical Value; cash runway extended into 2027.
Upon close, AstraZeneca gets full roxadustat rights in China; FibroGen retains U.S. and ex-AstraZeneca markets.
Senior VP China Operations Christine Chung will depart upon closing; Phase 2 trial of FG-3246 in mCRPC expected 2Q 2025.

item 1.01 item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Christine L. Chung

Senior Vice President, China Operations

KYNB · KYNTRA BIO, INC.

Filed: February 20, 2025, 6:59 PM ET

Upon the closing of the sale of FibroGen International pursuant to the Share Purchase Agreement, Christine L. Chung, who currently serves as our Senior Vice President, China Operations, will cease employment with us.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Christine L. Chung departed as Senior Vice President, China Operations at KYNTRA BIO, INC..

Action: cease employment
Role: Senior Vice President, China Operations

Exact text from the filing

Upon the closing of the sale of FibroGen International pursuant to the Share Purchase Agreement, Christine L. Chung, who currently serves as our Senior Vice President, China Operations, will cease employment with us.

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KYNTRA BIO, INC. filing history →

Source: SEC EDGAR

accession 0000950170-25-023729

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