On February 23, 2024, Panacea Venture Healthcare Fund II, L.P., led by Founding Managing Partner James Huang, reported the purchase of 3.1 million American Depositary Shares (ADSs) of Connect Biopharma Holdings Limited through a series of open market transactions. These shares were acquired at a weighted average price of $0.9836 per ADS. The transactions were funded by capital contributions from the partners of Panacea Venture Healthcare Fund II, L.P. As a result of these purchases, Panacea Venture Healthcare Fund II, L.P., along with Panacea Innovation Limited, Panacea Venture Healthcare Fund II GP Company, Ltd., and James Huang, collectively hold 12,000,000 Ordinary Shares of Connect Biopharma, representing 21.8% of the company's class of shares. This stake makes them one of the largest shareholders...Show More

On February 23, 2024, Panacea Venture Healthcare Fund II, L.P., led by Founding Managing Partner James Huang, reported the purchase of 3.1 million American Depositary Shares (ADSs) of Connect Biopharma Holdings Limited through a series of open market transactions. These shares were acquired at a weighted average price of $0.9836 per ADS. The transactions were funded by capital contributions from the partners of Panacea Venture Healthcare Fund II, L.P. As a result of these purchases, Panacea Venture Healthcare Fund II, L.P., along with Panacea Innovation Limited, Panacea Venture Healthcare Fund II GP Company, Ltd., and James Huang, collectively hold 12,000,000 Ordinary Shares of Connect Biopharma, representing 21.8% of the company's class of shares. This stake makes them one of the largest shareholders of the company. The ownership structure is such that James Huang, through his control of Panacea Innovation Limited and its ownership of Panacea Venture Healthcare Fund II GP Company, Ltd., may be deemed to share beneficial ownership of the reported shares. However, each reporting person has disclaimed beneficial ownership of the shares, except to the extent of their pecuniary interest. No other transactions in the Ordinary Shares have been made by the reporting persons since the initial Schedule 13D filing.