Ping An Biomedical announces investment in Future Biotechnology Group

Ping An Biomedical entered into a non-binding memorandum with Future Biotechnology Group. The Investment Memorandum outlines an initial investment of $30M to be paid in cash, as well as subsequent acquisitions with a consideration, in aggregate, of $60M to be settled in cash and share issuances. The Consideration Shares are to be held escrow and released in accordance with performance targets over an evaluation period of 3 years from January 2026 to December 2028.