Concord Biotech Limited — Others, 12-12-2024: Others

Concord Biotech Limited has made a strategic investment of USD 1,000,000 in Compulsorily Convertible Notes of Palvella Therapeutics, Inc., a biopharmaceutical firm focused on rare genetic skin diseases. This partnership aims to enhance the production and commercialization of Qtorin™, potentially paving the way for product exports. The investment supports Concord's growth strategy while maintaining a non-related party structure. The equity shares corresponding to this investment are expected to be allotted within 90 days. This move signals a positive outlook for Concord, as it expands its capabilities in a growing market segment.