Belite, a subsidiary of Lin BioScience, announced that it has received an additional US$15 million investment (approximately NT$450 million) from the same major international fund. The financing was executed through the issuance of one American Depositary Share (ADS) and one unit of warrants per package, at US$65 per ADS (approximately NT$1,933 per share). Each warrant allows the purchase of one ADS at the same exercise price of US$65. The proceeds will be used to strengthen working capital and for general corporate purposes.
Lin BioScience noted that the international fund has assets under management of around US$32 billion (approximately NT$951.7 billion), ranking among the world’s top 100 hedge funds. The financing price and warrant exercise price were set above Belite’s 30-day volume-weighted average price (VWAP). Should all warrants be exercised in the future, Belite would receive an additional US$15 million in funding. This investment not only strengthens Belite’s capital structure but also underscores the exceptional potential of LBS-008 and the strong recognition of its value in the international capital markets.
Currently, LBS-008 is undergoing multiple clinical trials targeting Stargardt disease (STGD1). The Phase 3 DRAGON trial has completed patient enrollment, with interim analysis results announced in February 2025, and full study completion (including a three-month follow-up period) expected in the fourth quarter of 2025. The Phase 1b/2/3 DRAGON II trial has completed enrollment and evaluation of six patients in the Phase 1b segment in Japan, with 16 patients enrolled in the Phase 2/3 segment as of May 2025. Meanwhile, a Phase 3 trial for late-stage geographic atrophy (GA) completed enrollment of 500 patients in July 2025.
Lin BioScience stated that clinical development of LBS-008 is progressing smoothly and has reached multiple key milestones. The company will continue maintaining close communication with regulatory authorities worldwide while attracting greater international investment interest. Its goal is to position LBS-008 as the world’s first oral therapy for both STGD1 and GA. Lin BioScience also indicated that future collaborations with international pharmaceutical companies, including licensing partnerships, are not ruled out, in order to accelerate drug development and commercialization—ultimately benefiting more patients by preserving vision and maximizing shareholder value.
Resource: 仁新小金雞Belite 再獲國際大型基金注資1,500萬美元
