Hanmi Pharmaceutical acquires Aptose Biosciences for C$2.41 per share

On June 30, 2026, Aptose Biosciences Inc. ("Aptose") was acquired by Hanmi Pharmaceutical Co. Ltd. ("Hanmi"), through its wholly owned subsidiary HS North America Ltd., pursuant to a plan of arrangement under the Business Corporations Act (Alberta). Hanmi acquired all of the issued and outstanding common shares of Aptose not already owned or controlled by Hanmi or its affiliates for C$2.41 per share in cash, representing an aggregate transaction value of approximately C$4.2 million. Prior to the acquisition, Hanmi owned approximately 19.93% of Aptose's outstanding common shares and had provided debt facilities to Aptose totaling more than US$30 million. Aptose continued from the Canada Business Corporations Act to the Business Corporations Act (Alberta) to facilitate the arrangement. The arrangement was approved by Aptose shareholders and received final court approval on March 31, 2026, as well as the required regulatory approvals in Korea. As a result of the arrangement, Aptose applied to cease being a reporting issuer in Canada and to terminate its public reporting obligations in Canada and the United States, and its common shares are expected to be delisted from the Toronto Stock Exchange.

This acquisition represents Hanmi’s first direct entry into the North American market and is expected to support the continued development of Aptose’s lead compound, tuspetinib, in the TUSCANY Phase 1/2 clinical study for acute myeloid leukemia.

Aptose is a clinical-stage biotechnology company headquartered in Toronto, Ontario, with operations in San Diego, California, focused on developing precision medicines for oncology.

Hanmi Pharmaceutical, headquartered in Seoul, South Korea, is a global biopharmaceutical company specializing in oncology, diabetes, obesity, and metabolic diseases. HS North America Ltd., Hanmi’s subsidiary, is based in New Jersey.

McCarthy Tétrault LLP advised Aptose Biosciences with a team led by Charles-Antoine Souliere that included Farhiyah Shariff, James Lin, Sabih Ottawa, Michel Ranger, Julien Leblanc, Audrey Bouffard-Nesbitt, Rhea Evans, Jamey Gage, Lyndsey Delamont, Charles Morin, Rebecca Wieschkowski, Tasia Ntwari, Elle Anderson, Rebecca Thomas, and Annie Poirier-Simard.