YS Biopharma Schedules May 21, 2024 EGM and Names Interim CEO

GAITHERSBURG, Md., May 7, 2024 -- YS Biopharma Co., Ltd. (Nasdaq: YS), a prominent global biopharmaceutical firm, has announced the scheduling of an Extraordinary General Meeting (EGM) to be held on May 21, 2024, at the 35th Floor, Two Exchange Square, 8 Connaught Place, Central, Hong Kong, at 9:00 a.m. local time. Attendees also have the option to join via Zoom. The meeting aims to address several key resolutions.

The record date for determining shareholders eligible to attend and vote at the EGM is set for the close of business on May 10, 2024 (Eastern Time). Shareholders on record as of this date will be entitled to participate in the meeting and any subsequent adjournments. The EGM's agenda includes several significant resolutions: a proposal to rename the company from YS Biopharma Co., Ltd. to LakeShore Biopharma Co., Ltd., the election of new director candidates, and the adoption of the proposed 2024 Share Incentive Plan, among other items.

In a concurrent announcement, the company’s Board of Directors has appointed Mr. Dave Chenn as the Interim Chief Executive Officer, effective May 2, 2024. Dr. Hui Shao, the current CEO, will assume the roles of Co-Chief Executive Officer and Chief Business Officer on the same date.

Mr. Chenn brings over 20 years of leadership experience across the technology, finance, and healthcare sectors, noted for his ability to drive innovation and growth. He founded Oceanpine Capital in 2018, an investment management firm focusing on technology, media, telecommunications (TMT), and healthcare sectors. Oceanpine Capital also led the Series B financing for YS Biopharma in 2021. Prior to this, Mr. Chenn established China Century Group in 2005, a multinational company with interests in technology, hospitality, healthcare, and finance, operating in China, Southeast Asia, and the United States. Before his entrepreneurial ventures, Mr. Chenn spent five years at Oracle's Silicon Valley headquarters. He holds advisory and leadership roles at various institutions, including the University of Chicago's Booth School of Business and the Beijing Institute of Technology. Mr. Chenn has received numerous accolades for his contributions, including being named a Top Ten Reformer of China's Growth in 2017 and one of China's Top 50 Investors in 2020. He earned an MBA from the University of Chicago's Booth School of Business and a BS from the Beijing Institute of Technology.

The details of the EGM, including how to join via Zoom and instructions for voting, are available in the EGM Notice on the company’s website. The EGM Notice outlines the resolutions that will be presented for shareholder approval.

YS Group is a globally recognized biopharmaceutical company focused on developing and delivering innovative vaccines and therapeutic biologics for infectious diseases and cancer. The company has pioneered the PIKA® immunomodulating technology platform and is working on next-generation biologics for diseases such as Rabies, Coronavirus, Hepatitis B, Influenza, and Shingles. YS Biopharma has operations in China, the United States, Singapore, and the Philippines and is led by a team with extensive global and local expertise in the biopharmaceutical sector. 

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