---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-289550"
form_type: "8-K"
ticker: null
cik: "0001300699"
company_name: "Athenex, Inc."
filed_at: "2022-11-21T23:59:59+00:00"
generated_at: "2026-06-21T14:52:45.208616+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Athenex closes sale of China API business for ~$18M; enters supply agreement

## Summary
- Sold equity interests in China API manufacturing to Chongqing Comfort Pharmaceutical for ~$18M gross.
- Received ~$11M net at closing; remaining proceeds due in two tranches over six months.
- Entered long-term supply agreement for APIs used in Klisyri (tirbanibulin) and oral paclitaxel.
- Also received waiver from lenders waiving mandatory prepayment of Credit Agreement upon sale closing.
- CEO states completion demonstrates progress on monetizing non-core assets to focus on NKT cell therapy pipeline.

## SEC filing metadata
- accession: 0001193125-22-289550
- form_type: 8-K
- cik: 0001300699
- company_name: Athenex, Inc.
- filed_at: 2022-11-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1300699/000119312522289550/0001193125-22-289550-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1300699/000119312522289550/d370439d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-289550
- JSON: https://secwatch.observer/filing/0001193125-22-289550.json
- Plain text: https://secwatch.observer/filing/0001193125-22-289550.txt

## Key facts
- M&A Transactions
  Athenex, Inc. completed a disposition involving Chongqing Comfort Pharmaceutical Inc. as assignee of TiHe Capital (Beijing) Co. Ltd. for RMB129.4 million, or approximately $18 million (closed 2022-11-16).
  - Action: disposition
  - Counterparty: Chongqing Comfort Pharmaceutical Inc. as assignee of TiHe Capital (Beijing) Co. Ltd.
  - Consideration: RMB129.4 million, or approximately $18 million
  - Closing: 2022-11-16
  source text: On November 16, 2022, the Company completed the sale of its equity interests in its active pharmaceutical ingredient (“API”) manufacturing business in China to Chongqing Comfort Pharmaceutical Inc. as assignee of TiHe Capital (Beijing) Co. Ltd. (the “Buyer”) for an aggregate purchase price of RMB129.4 million, or approximately $18 million, pursuant to the Equity Purchase Agreement dated July 7, 2022 between the Company and the Buyer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1300699/000119312522289550/0001193125-22-289550-index.htm
- Material Agreements
  Athenex, Inc. entered into Supply Agreement with entities controlled by the assignee of the Buyer (the "Supplier") (effective 2022-11-16).
  - Action: entry
  - Agreement: supply
  - Counterparty: entities controlled by the assignee of the Buyer (the "Supplier")
  - Effective: 2022-11-16
  source text: Upon the closing of the Sale, the Company and ATNX SPV, LLC (the “Subsidiary”) entered into a non-exclusive supply agreement (the “Supply Agreement”) with entities controlled by the assignee of the Buyer (the “Supplier”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1300699/000119312522289550/0001193125-22-289550-index.htm
- Material Agreements
  Athenex, Inc. amended the Waiver with Oaktree Fund Administration, LLC, as administrative agent, and the lenders (effective 2022-11-17).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Oaktree Fund Administration, LLC, as administrative agent, and the lenders
  - Effective: 2022-11-17
  source text: As of November 17, 2022, the Company received a waiver (the “Waiver”) of certain terms of the Credit Agreement and Guaranty, dated as of June 19, 2020 by and among the Company, as borrower, the guarantors from time to time party thereto, Oaktree Fund Administration, LLC, as administrative agent, and the lenders (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1300699/000119312522289550/0001193125-22-289550-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.