On February 2, 2021 Coherus BioSciences, Inc. (Nasdaq: CHRS) ("Coherus") reported that Shanghai Junshi Biosciences Co., Ltd (HK: 1877; SH: 688180) ("Junshi Biosciences") intends to make a strategic investment of $50 million in Coherus pursuant to the terms of the definitive stock purchase agreement (Press release, Coherus Biosciences, FEB 2, 2021, View Source [SID1234574491]).

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"We view our collaboration with Coherus as a strategic long-term partnership for the development and commercialization of toripalimab and promising PD-1 combination candidates," said Dr. Ning LI, CEO of Junshi Biosciences. "We wanted to invest in Coherus so we could share our future growth together and mutual success with these programs."

"We appreciate this vote of confidence and commitment in Coherus, and we are pleased to have Junshi Biosciences as a partner and now also as a shareholder," said Denny Lanfear, CEO of Coherus.

Closing of the strategic investment is subject to obtaining requisite market and securities authorities approvals and to clearance under the Hart-Scott Rodino Antitrust Improvements Act.