TWi Biotechnology Announces September 30, 2025 as the Effective Date of Merger with DK Pharma

TWi Biotechnology, Inc. ("TWi Biotechnology") today announced that the effective date of its merger with DuKang Pharmaceuticals Inc. ("DK Pharma") has been officially set for September 30, 2025. This date will also serve as the record date for the issuance of new shares in connection with the merger.

The merger was previously approved by both companies at their respective Annual General Meetings held on June 6, 2025, with the effective date of the merger tentatively scheduled for September 30, 2025. On September 25, 2025, the Boards of Directors of both TWi Biotechnology and DK Pharma formally confirmed September 30, 2025 as the official merger effective date.

Upon completion of the merger, TWi Biotechnology will remain as the surviving entity, and DK Pharma will be dissolved. As of the effective date, TWi Biotechnology will assume all assets, liabilities, rights, and obligations of DK Pharma in full.

Under the terms of the merger agreement, TWi Biotechnology will issue 96 million new shares to DK Pharma, increasing its paid-in capital from NT$1.076 billion to NT$2.036 billion. This strategic merger represents a key milestone in TWi Biotechnology’s growth strategy, combining complementary strengths to deliver several benefits, including a broader R&D pipeline, entry into new therapeutic areas, enhanced development capabilities, streamlined operations, and increased organizational efficiency.

These benefits are expected to strengthen TWi Biotechnology’s competitive position, while also enhancing long-term value for shareholders, partners, and the broader healthcare community.

Further Information Contact： 

TWi Biotechnology, Inc. CFO Ruth Yang 

Tel：+886 2 26571788 ext. 600 

Email：pr-ir@twibiotech.com

About TWi Biotechnology:

TWi Biotechnology, Inc. is a clinical-stage biopharmaceutical company based in Taipei, Taiwan, specializing in developing innovative therapies through drug repurposing strategies for dermatological, central nervous system (CNS) and rare diseases with significant unmet medical needs. Established in 2010 by renowned scientist-turned entrepreneur Dr. Chih-Ming Chen, the company presently has three core drug development programs:

AC-203: a topical formulation of 1% diacerein being developed for epidermolysis bullosa simplex (EBS), a rare genetic skin disorder with no approved therapeutic treatments. Early clinical trials demonstrated significant reduction of blisters among patients with severe EBS. An international, multicenter, randomized, double-blind, vehicle-controlled, phase 2/3 study with open-label extension study, referred to as the EBShield Study, is currently underway. AC-203 has received an Orphan Drug Designation in the US, EU, and Taiwan, as well as Rare Pediatric Disease and Fast Track Designations from the US FDA.

AC-1101: a propriety topical gel formulation of tofacitinib citrate, a JAK inhibitor, for inflammatory skin diseases, including granuloma annulare (GA), a rare, chronic skin disease with no approved treatments. A phase 1b clinical study on GA in the US was completed in 2024, which demonstrated good safety and tolerability, minimal systemic exposure, and potential efficacy trends. An application for an Orphan Drug Designation is awaiting US FDA’s decision.

NORA520: a new drug asset acquired by TWi Biotechnology through its merger with DK Pharma. NORA520 is an oral prodrug of brexanolone developed for the treatment of postpartum depression (PPD) and major depressive disorder (MDD) — both representing underserved patient populations. NORA520 offers oral convenience with a pharmacokinetic profile comparable to Zulresso, aiming to improve patient experience. In phase 1 trials involving healthy subjects, NORA520 demonstrated a favorable safety profile with no severe adverse events. A double-blind, placebo-controlled phase 2 trial in PPD patients is currently ongoing in the United States, with a phase 2 MDD trial planned in the coming months.

Legal disclaimer：

This press release, along with the concurrently disclosed related information, contains forward-looking statements. Such statements are based on judgments and projections made in consideration of existing risks and potential uncertainties, including market conditions and other factors beyond the control of TWi Biotechnology, Inc. (hereinafter referred to as the “Company”). These forward-looking statements reflect the Company’s current expectations and evaluations. Except as required by applicable law, the Company undertakes no obligation to update or revise any of these statements in the future.