Hanmi Pharmaceutical has completed its acquisition of Aptose Biosciences for C$2.41 per share, a 28% premium to the stock's 30-day VWAP. The all-cash deal, valued at a premium of C$0.53 per share over the undisturbed price, closed after receiving shareholder, court, and Korean regulatory approvals. Aptose shares are expected to be delisted from the TSX on July 3, giving Hanmi control of the tuspetinib AML therapy pipeline.
Hanmi Pharmaceutical Co. Ltd. closed its acquisition of Aptose Biosciences Inc. on Tuesday for C$2.41 per share in cash, a 28% premium to the clinical-stage oncology company's 30-day volume-weighted average price of C$1.88 on the Toronto Stock Exchange.
"The acquisition of Aptose and its tuspetinib program aligns with our strategy to build a leading oncology franchise," a Hanmi spokesperson said. The deal, structured as a plan of arrangement under Canadian law, was first announced in November 2025 and amended in February 2026.
Shareholders approved the transaction at a special meeting on March 31, the same day the Ontario Superior Court granted final approval. Korean regulators also signed off, clearing the last hurdle for the cross-border deal. Aptose shareholders, excluding Hanmi affiliates, will receive the cash consideration, with the common shares expected to be delisted from the TSX on or about July 3.
The acquisition gives Hanmi full control of tuspetinib, an oral kinase inhibitor being developed as a frontline triplet therapy for newly diagnosed acute myeloid leukemia. Aptose had been advancing the drug through clinical trials as a monotherapy and in combination regimens for relapsed or refractory AML, a blood cancer with limited treatment options and high mortality rates. The company has submitted applications to cease its reporting issuer status in Canada and terminate its public reporting obligations in the US.
For Hanmi, a Seoul-based research-driven pharmaceutical company founded in 1973 and operating under the Hanmi Science holding group, the deal expands its oncology pipeline beyond its existing portfolio of innovative biologics and small-molecule candidates. The company has been actively pursuing global partnerships and licensing collaborations with multinational pharmaceutical companies to advance its therapies.
The transaction removes the uncertainty that had hung over Aptose as a clinical-stage biotech with no approved products and a cash-burning development program. For Hanmi, the bet is that tuspetinib's differentiated safety profile — designed to avoid overlapping toxicities when combined with other therapies — can carve out a position in the crowded AML treatment landscape dominated by drugs from Novartis AG, AbbVie Inc., and Pfizer Inc.
This article is for informational purposes only and does not constitute investment advice.
