OCCUPANCY BACK CLOSE TO 100% IN THE THIRD QUARTER
PROJECTS ON SCHEDULE AND ON BUDGET
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Tag: GlobeNewswire
Alphen aan den Rijn – October 30, 2026 – Wolters Kluwer, a global leader in information solutions, software and services, announces it has signed an agreement to sell its German consumer tax business for €40 million.
Wolters Kluwer today has signed an agreement to divest Wolters Kluwer Steuertipps GmbH (Steuertipps) to Buhl Data Service GmbH.
The divestment allows Wolters Kluwer Tax & Accounting to further sharpen its strategic focus on professional markets, where we see the strongest opportunities for synergies, sustainable long-term growth, and returns.
Steuertipps is expected to have gross revenues of approximately €30 million (un-audited) in 2026. The transaction is expected to close in the next few days.
# # #
Wolters Kluwer (EURONEXT: WKL) is a global leader in information solutions, software and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services. Wolters Kluwer reported 2025 annual revenues of €6.1 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,100 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
For more information, visit www.wolterskluwer.com, follow us on LinkedIn, Facebook, YouTube and Instagram.
| Media | Investors/Analysts |
| Leon Willems | Meg Geldens |
| Press Lead | Vice President |
| Global Communications | Investor Relations |
| leon.willems@wolterskluwer.com | ir@wolterskluwer.com |
Forward-looking Statements and Other Important Legal Information
This report contains forward-looking statements. These statements may be identified by words such as “expect”, “should”, “could”, “shall” and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; conditions created by pandemics; behavior of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer’s businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS
NBPE Announces Progress on Realisations and Portfolio Rebalancing, alongside September 2026 Monthly NAV
St Peter Port, Guernsey 30 October 2026
Neuberger Private Equity Partners (NBPE), the $1.1bn1 FTSE 250-listed private equity investment company managed by Neuberger, today announces progress on realisations and portfolio refresh and rebalancing initiatives alongside its September 2026 monthly NAV.
NBPE will host its annual Capital Markets Day on 5 November 2026, with presentations from the Chairman of NBPE, members of the Neuberger team, and TA Associates. The event will provide further details on the market, portfolio performance, progress on the portfolio refresh, and steps taken to rebalance the portfolio towards younger higher-growth investments, alongside returns of capital. A replay of the Capital Markets Day presentations will be accessible on NBPE’s website after the event.
Highlights
- Neuberger’s proactive portfolio management has resulted in a significant increase in exit activity in September and October, taking total proceeds on signed transactions to $299 million in 2026
- A further $36 million of share buybacks in September at an average discount of 29%, bringing total capital returned to shareholders through buybacks and dividends to $152 million in 20262, a 138% increase on 2025
- Continued strong progress in refreshing the portfolio – year to date capital committed to 10 new investments is $187 million; strong pipeline of new investment opportunities
- Exchange of holding in Action for shares in 3i Group in September to increase future optionality
- September NAV per share of $27.58 (£20.76), a total return of (2.0%) in the month, with performance impacted by proactive portfolio company realisations and portfolio management, and negative movements in quoted holdings and foreign exchange
- Private portfolio continues to perform well, with strong portfolio company operating performance – LTM revenue and EBITDA growth of 11.1% and 12.1%, respectively at 30 June 2026
- Liquidity position strengthened as at the end of September: $184 million of cash and available borrowing facility – an investment level of 111%, at the lower end of the 110% –120% range
Exit activity accelerated with $299 million of proceeds on signed transactions in 2026, 25% of opening portfolio value
- Proactive portfolio management has resulted in a significant increase in exit activity in September and October, including the completion of:
- Full exits of three investments and partial realisations of an additional two investments in a series of Neuberger led transactions to third-party buyers
- Investments represent 8.2% of NBPE’s August NAV and have a weighted average maturity of 7.6 years
- Investments produced a since inception aggregate IRR of 17% and 3.0x multiple of cost as of 30 September 2026
- Transactions were completed at an aggregate 7% discount to 31 December 2025 NAV and generated proceeds of $81 million
- Sale of OneMonroe, NBPE’s third largest investment, to a GP led continuation vehicle
- NBPE invested in OneMonroe in 2021
- Transaction generated proceeds of $65.5 million and was an 11% uplift to December 2025 valuations
- Full exits of three investments and partial realisations of an additional two investments in a series of Neuberger led transactions to third-party buyers
- These transactions further support the rebalancing of the portfolio towards younger investments with higher growth potential
- Proceeds are being redeployed into accretive share buybacks and new investments
- Potential for additional exits in next 6-12 months with a number of ‘exit’ ready companies in the portfolio
Significant increase in capital returns with $152 million returned to shareholders via dividends and share buybacks in 2026, a 138% increase on 2025
- YTD to September 2026, $112 million of share buybacks completed at a weighted average discount of 29%; 14.5% of the outstanding share capital at the end of 2025
- 1.8 million shares repurchased in September at a weighted average discount of 29%, resulting in ~$0.38 NAV per share accretion in the month
- As at 30 September 2026, a total of $182 million has been deployed into share buybacks since the beginning of 2025, adding $1.45 to NAV per share
- In the existing programme, $58 million of capital allocated to share buybacks remains
Strong progress in refreshing the portfolio, with investments made since 2024 now representing 28%3 of the portfolio
- $187m has been committed to 10 new investments in 2026, with five investments in September and October, including:
- $33m invested in a healthcare data company
- $10m in a global financial services company
- $10m in a pharmaceuticals company
- $10m additional funding to an existing 2026 investment
- $18m funded to a new healthcare technology company
- Recent investments continue to perform well: 2024 and 2025 investments delivered weighted average LTM revenue and EBITDA growth of 14.5% and 15.7% respectively, with a current aggregate gross MOIC of 1.6x and average gross IRR of ~28%
- The pace of new investments will continue to be balanced with distributions from the portfolio and returns of capital to shareholders
Exchange of holding in Action for shares in 3i Group to increase future optionality
- NBPE invested $26 million in Action in 2020. Since then, the investment has generated $70 million of proceeds, in addition to the value of NBPE’s position in 3i Group
- Exchange of holding in September was calculated at an implied 3i share price of £31.31, in line with 3i Group’s 30 June 2026 NAV, with the shares subject to lock-up restrictions preventing their sale for nine months, save for customary exceptions
- As at 30 September 2026, NBPE’s holding in 3i Group was valued at $64 million
Strong liquidity profile
- Liquidity position strengthened in September: cash of $54 million and $130 million borrowing availability under the credit facility as of 30 September 2026 – an investment level of 111%, at the lower end of the 110% – 120% short to medium-term range
- At 29 October 2026, available cash was $33 million and the borrowing available under the credit facility was $160m – an investment level of 111%
- In addition, NBPE expects a further $33 million of proceeds shortly from signed transactions
September NAV of $27.58 (£20.76), a total USD return of (2.0%) in the month
- 1.4% NAV increase attributable to share buybacks
- (1.7%) NAV decrease ($18 million) from proactive portfolio realisations and management
- (0.9%) NAV decrease ($10 million) from quoted holdings
- (0.6%) NAV decrease ($6 million) from foreign exchange movements
- (0.2%) NAV decrease ($2 million) attributable to expense accruals
| As of 30 September 2026 | YTD | 1 Year | 3 years | 5 years | 10 years |
| NAV TR (USD)* Annualised |
2.1% | 4.0% | 12.5% 4.0% |
4.8% 0.9% |
152.2% 9.7% |
| MSCI World TR (USD)* Annualised |
12.1% | 15.7% | 81.2% 21.9% |
79.4% 12.4% |
250.6% 13.4% |
| Share price TR (GBP)* Annualised |
(4.2%) | 4.0% | 7.5% 2.5% |
15.3% 2.9% |
161.7% 10.1% |
| FTSE All-Share TR (GBP)* Annualised |
9.8% | 16.8% | 53.9% 15.5% |
68.2% 11.0% |
118.4% 8.1% |
* All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns.
Portfolio Valuation
The fair value of NBPE’s portfolio as of 30 September 2026 was based on the following information:
- 13% of the portfolio was valued as of 30 September 2026
- 12% in public securities
- 1% in private direct investments
- 1% of the portfolio was valued as of 31 August 2026
- 1% in private direct investments
- 86% of the portfolio was valued as of 30 June 2026
- 86% in private direct investments
Supplementary Information (as of 30 September 2026)
| Company Name | Vintage | Lead Sponsor | Sector | Fair Value ($m) | % of FV |
| Solenis | 2021 | Platinum Equity | Industrials | 72.6 | 6.3% |
| OneMonroe | 2021 | AEA Investors | Industrials | 65.5 | 5.7% |
| 3i Group (Action) | 2020 | 3i Group | Consumer / diversified financials | 64.2 | 5.6% |
| Mariner | 2024 | Leonard Green & Partners | Financial Services | 46.3 | 4.0% |
| True Potential | 2022 | Cinven | Financial Services | 46.1 | 4.0% |
| BeyondTrust | 2018 | Francisco Partners | Technology / IT | 39.1 | 3.4% |
| Business Services Company* | 2017 | Not Disclosed | Business Services | 38.7 | 3.3% |
| Ryan | 2026 | Ares / Onex | Business Services | 37.5 | 3.2% |
| Constellation Automotive | 2019 | TDR Capital | Business Services | 35.6 | 3.1% |
| Marquee Brands | 2014 | Neuberger | Consumer | 35.5 | 3.1% |
| Auctane | 2021 | Thoma Bravo | Technology / IT | 34.9 | 3.0% |
| Benecon | 2024 | TA Associates | Healthcare | 31.6 | 2.7% |
| Staples | 2017 | Sycamore Partners | Business Services | 31.0 | 2.7% |
| AutoStore (OB.AUTO) | 2019 | THL | Industrials | 29.8 | 2.6% |
| Excelitas | 2022 | AEA Investors | Industrials | 28.4 | 2.5% |
| Technology Company #1 | 2026 | Multiple GPs | Technology / IT | 26.4 | 2.3% |
| Engineering | 2020 | Renaissance Partners / Bain Capital | Technology / IT | 26.2 | 2.3% |
| AI Company #1 | 2026 | Not Disclosed | Technology / IT | 25.5 | 2.2% |
| Agiliti | 2019 | THL | Healthcare | 25.3 | 2.2% |
| GFL (NYSE: GFL) | 2018 | BC Partners | Business Services | 24.8 | 2.1% |
| Branded Cities Network | 2017 | Shamrock Capital | Communications / Media | 24.6 | 2.1% |
| Kroll | 2020 | Further Global / Stone Point | Financial Services | 21.5 | 1.9% |
| Chemical Guys | 2021 | AEA Investors | Consumer | 20.7 | 1.8% |
| CH Guenther | 2021 | Pritzker Private Capital | Consumer | 18.3 | 1.6% |
| Addison Group | 2021 | Trilantic Capital Partners | Business Services | 18.1 | 1.6% |
| Qpark | 2017 | KKR | Transportation | 16.9 | 1.5% |
| Infra Group | 2025 | PAI Partners | Technology / IT | 16.2 | 1.4% |
| Zeus | 2024 | EQT | Healthcare | 13.3 | 1.1% |
| Bylight | 2017 | Sagewind Partners | Technology / IT | 12.9 | 1.1% |
| Milani | 2018 | Gryphon Investors | Consumer | 11.7 | 1.0% |
| Total Top 30 Investments | $939.2 | 81.3% |
*Undisclosed company due to confidentiality.
| Geography | % of Portfolio |
| North America | 75% |
| Europe | 25% |
| Total Portfolio | 100% |
| Industry | % of Portfolio |
| Tech, Media & Telecom | 23% |
| Consumer | 17% |
| Industrials | 20% |
| Financial Services | 11% |
| Business Services | 19% |
| Healthcare | 7% |
| Other | 4% |
| Total Portfolio | 100% |
| Vintage Year | % of Portfolio |
| 2016 & Earlier | 5% |
| 2017 | 13% |
| 2018 | 10% |
| 2019 | 9% |
| 2020 | 11% |
| 2021 | 19% |
| 2022 | 8% |
| 2023 | 2% |
| 2024 | 8% |
| 2025 | 3% |
| 2026 | 12% |
| Total Portfolio | 100% |
Note: Numbers may not sum due to rounding. Excludes pending investments.
For further information, please contact:
NBPE Investor Relations +44 (0) 20 3214 9002
Luke Mason NBPrivateMarketsIR@nb.com
Teneo +44 (0) 20 7260 2700
Tom Murray NBPE@teneo.com
Rob Yates
Jessica Pine
About Neuberger Private Equity Partners Limited
Neuberger Private Equity Partners Limited (“NBPE”) invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.
LEI number: 213800UJH93NH8IOFQ77
About Neuberger
Neuberger was founded in 1939 to do one thing: deliver compelling investment results for our clients over the long term. This remains our singular purpose today, driven by a culture rooted in deep fundamental research, the pursuit of investment insight and continuous innovation on behalf of clients, and facilitated by the free exchange of ideas across the organization.
From offices in 39 cities[1] across 26 countries, Neuberger manages a range of equity, fixed income, private equity and hedge fund strategies on behalf of institutions, advisors and individual investors worldwide. With more than 780[1] investment professionals and over 2,900[1] employees in total, Neuberger has built a diverse team of individuals united in their commitment to client outcomes and investment excellence. Our culture has afforded us enviable retention rates among our senior investment staff and we are proud to have been ranked 1st by Pensions & Investments in their 2025 “Best Places to Work in Money Management” survey, where we have placed 1st in four of the last five years and finished in the top two for 12 consecutive years[2].
As a private, independent, employee-owned investment manager, Neuberger is structurally aligned with the long-term interests of our clients. We have no external parent or public shareholders to serve, nor other lines of business to distract us from our core mission. And with our employees and their families invested alongside our clients—plus 100% of employee deferred cash compensation directly linked to team and firm strategies—we are truly in this together.
For more information, please visit our website: www.nb.com/en/global/who-we-are.
Media Contacts:
US: Soogyung Jordan: Soogyung.Jordan@nb.com
EMEA: Fiona Kehily: Fiona.Kehily@nb.com
[1] Firm data reflects the collective data for the various subsidiaries of Neuberger Berman Group LLC as of 30 June 2026.
[2] Among organizations with over 1,000 employees by Pensions & Investments. For additional information on the criteria for the award, please visit https://www.pionline.com/awards/best-places-to-work-in-money-management/pi-best-places-to-work-2025
This material is issued on a limited basis through various global subsidiaries and affiliates of Neuberger Berman Group LLC. Please visit www.nb.com/disclosure-global-communications to learn about each company and the legal restrictions and restrictions. The name “Neuberger Berman” and logo are registered service marks of Neuberger Berman Group LLC.
© 2026 Neuberger Berman Group LLC. All rights reserved.
This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.
NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.
1 Based on net asset value (unaudited).
2 At 30 September 2026
3 Including pending investments.
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WUHU, China, Oct. 30, 2026 (GLOBE NEWSWIRE) — The 2026 iCAUR International User Summit, themed “Classic Never Fades | Make It Yours,” was held in Wuhu, China, from October 19 to 23, bringing together more than 500 user representatives, partners, and media from around the world. The summit highlighted the interplay between classic design, intelligent technology, and user co-creation through the global debut of the V25, the user ecosystem exhibition, the test-drive camp, and the smart factory tour.
[2026 iCAUR International User Summit Brings Together Users from Around the World]
United by the “Future Classic Design” philosophy, the V23, V25 and V27 form a distinctive and cohesive V-series lineup. The V25 retains its signature boxy silhouette and classic round headlights, and is available with both range-extended and battery-electric powertrains. Equipped with over 20 ecosystem interfaces, towing capability, and vehicle-to-load (V2L) functionality, the V25 supports a range of activities, from camping to gear transport, while offering users ample scope for customization.
The summit showcased more than 20 customized vehicles, demonstrating the V-series’ potential for personalization. Among them, the three officially customized models, the V25 Game Changer, V23 Forge and V27 Sun Roam, take inspiration from gaming culture, urban individuality and classic design, respectively. All three are scheduled to launch by early 2027. The showroom will also feature a dedicated space for vehicle customization. Body accessories, outdoor gear, AiMOGA robots and lifestyle merchandise on display at the Ecosystem Exhibition illustrated how the vehicles integrate into everyday life.
Sustained engagement turns co-creation into a long-term endeavor. iCAUR’s official user clubs, already established in nine countries, will bring more users together through Club Connect in 2027. The summit unveiled the first cohort of global brand ambassadors and also provided a platform for users from different countries to exchange ideas on community engagement and local vehicle customization.
The test-drive camp put the V25 and V27 through their paces across seven types of terrain, attracting more than 100 dealers, media representatives and KOLs to experience their capabilities firsthand. Chery Group’s iCAUR also gathered feedback on powertrain performance, handling and comfort. The feedback was then relayed directly to the R&D team. The smart factory tour offered further insight into intelligent and green manufacturing processes, giving participants a closer look at the production systems behind the brand’s classic design. It also strengthened ties among iCAUR’s products, customization ecosystem and global user community.
Serena Wang
Email: wangjieyun2@mychery.com
Website: iCAUR GLOBAL WEB
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7475e8ea-a0ab-4f0e-beb0-951dc8b1886a
SHANGHAI, Oct. 30, 2026 (GLOBE NEWSWIRE) — Fangzhou Inc. (“Fangzhou” or the “Company”) (HKEX: 06086), a leading provider of AI‑driven Internet healthcare solutions, received the “Digital-intelligence Leadership Award-Algorithmic Unity” at the 2026 Tencent Global Digital Ecosystem Summit, recognizing its innovation and achievements in integrating artificial intelligence with chronic disease management services.
Fangzhou Honored with Digital Intelligence Leadership Award at Tencent Summit
The summit is Tencent’s annual flagship event for enterprise technology and cloud ecosystems, bringing together industry leaders and partners to explore digital transformation and AI-driven innovation. Fangzhou’s recognition highlights the growing significance of its “AI + Chronic Disease Services” model and its efforts to advance the application of AI across full-cycle health management.
As artificial intelligence transitions from early-stage exploration towards wider commercial adoption, Fangzhou has continued broaden its AI+H2H (Hospital-to-Home) smart healthcare ecosystem. The model integrates AI into multiple chronic disease management workflows, moving beyond traditional episodic medical interactions toward continuous, personalized healthcare services.
Fangzhou has developed AI applications powered by its proprietary “XingShi” Large Language Model (“XS LLM”) to serve both patients and physicians. Its AI Health Manager and AI Medication Assistant provide personalized health management support and medication guidance, while AI pre-consultation tools and the AI Academic Assistant help physicians reduce administrative workloads and focus on clinical care.
Fangzhou’s AI capabilities extend to health monitoring, patient follow-up and health education, helping bridge gaps in post-consultation care and improve service efficiency. By combining AI-driven automation with personalized health management, the Company aims to expand access to quality healthcare, advance proactive chronic disease management and strengthen its positioning as a “full-lifecycle personal health service partner.”
Fangzhou’s progress has also been supported by its collaboration with Tencent Health. Since deepening their partnership in 2025, the companies have integrated Fangzhou’s “XS LLM” and healthcare expertise with Tencent Health’s technology infrastructure, supporting reliable and efficient AI-powered services across multiple chronic disease management scenarios.
This recognition provides further third-party recognition of Fangzhou’s AI capabilities and the value of its digital healthcare model. Looking ahead, Fangzhou will continue strengthening its partnership with Tencent Health and other healthcare ecosystem participants, expanding AI applications across chronic disease services and advancing more efficient, precise and personalized long-term health management.
About Fangzhou Inc.
Fangzhou Inc. (HKEX: 06086) is China’s leading online chronic disease management platform, serving 59.8 million registered users and 282,000 physicians (as of June 30, 2026). The Company specializes in delivering tailored medical care and AI‑enabled precision medicine solutions. For more information, visit https://investors.jianke.com.
Media Contact
For further inquiries or interview requests, please contact:
Xingwei Zhao
Director of Public Relations
Email: pr@jianke.com
Disclaimer: This press release contains forward‑looking statements. Actual results may differ materially from those anticipated due to various factors. Readers are cautioned not to place undue reliance on these statements.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0242f394-c29f-4b0c-97d4-32d9a1f61bd2
Tokyo, Japan and Cambridge, UK, 30 October 2026 – Nxera Pharma (“the Company” or “Nxera”; TSE: 4565) provides an update on operational activities and reports its consolidated results for the third quarter ended 30 September 2026. The full report can be found here.
Chris Cargill, President and CEO of Nxera, commented: “During the third quarter of FY2026, we continued to build on the progress made in the first half, focusing on growing our business and enhancing the value of our pipeline. In Japan, we remained focused on maximizing the value of PIVLAZ® and QUVIVIQ®.
We also made important progress across our partnered programs. Under our collaboration with Neurocrine Biosciences Inc. (“Neurocrine”), we achieved a US$10 million milestone following progress in the development of NBI-1117567, an M1 receptor agonist for cognitive impairment associated with Alzheimer’s disease. A further US$8.6 million milestone was achieved following late-stage development progress in the orexin receptor 2 (OX2R) agonist program originating from our collaboration with Centessa Pharmaceuticals Limited (“Centessa”), which was acquired by Eli Lilly and Company (“Lilly”). These achievements demonstrate how assets originating from our drug discovery technology are generating revenue as they advance through development with our partners.
Since the end of the third quarter, we have continued to advance our business in Japan and the broader Asia-Pacific region. In October, we submitted a Marketing Authorization Application in South Korea for vamorolone for the treatment of Duchenne muscular dystrophy (DMD), marking an important step towards bringing a new treatment option to patients in that territory.
We also entered into an exclusive license, supply and commercialization agreement with Synmosa Biopharma Corporation (“Synmosa”) for QUVIVIQ® across eight Asia-Pacific markets, establishing a foundation to bring this medicine to more patients. In addition, we exercised our option to license the Fabry disease candidate lucerastat from Idorsia Pharmaceuticals Ltd. (“Idorsia”), strengthening our late-stage rare disease pipeline in Japan and the broader Asia-Pacific region.
These achievements demonstrate that our drug discovery, development and partnering strategy is delivering tangible results and strengthening the foundation for future growth. We remain focused on growing our commercial business in Japan and the broader Asia-Pacific region, advancing our partnered programs and maximizing the value of our proprietary pipeline, as we continue to drive sustained growth and value creation for patients and shareholders.”
Operational Highlights for the Nine Months Ended 30 September 2026
Progress in Japan and APAC Business
- Licensing agreement signed with Santhera Pharmaceuticals for the development, manufacturing and commercialization of vamorolone (commercialized internationally as AGAMREE®) for the treatment of Duchenne Muscular Dystrophy (DMD) in Japan, South Korea, Australia and New Zealand.
- The Ministry of Food and Drug Safety (MFDS) of South Korea granted Orphan Drug Designation (ODD) and Global Innovative Products on Fast Track (GIFT) designation to vamorolone for the treatment of DMD to support faster patient access.
- Nxera is on track to submit a planned Marketing Authorization Application (MAA) for vamorolone in South Korea during 2026.
- Positive topline results announced from a randomized, double-blind, placebo-controlled Phase 3 trial in South Korea evaluating daridorexant, a dual orexin receptor antagonist, in adult and elderly patients diagnosed with insomnia disorder.
- On 4 March 2026, an MAA was submitted to MFDS in South Korea for daridorexant for this patient population.
- Marketing approval received by Nxera’s commercial licensing partner Holling Bio-Pharma Corp. (“Holling”), the largest pharmaceutical distribution and sales company in Taiwan, from the Taiwan Food and Drug Administration (TFDA) for QUVIVIQ® (daridorexant; Taiwan brand name: 科唯可®) 25 mg and 50 mg for the treatment of insomnia in adult patients.
- Nxera will be responsible for the supply of drug product, while Holling will be responsible for distribution and sales.
- Nxera is entitled to receive initial sales-related milestones, tiered royalties on net sales, and revenue from product supply.
- QUVIVIQ® is expected to be launched in Taiwan during 2026.
Progress since 1 October 2026
- Nxera signed an exclusive license, supply and commercialization agreement with Taiwan-headquartered Synmosa Biopharma Corporation for QUVIVIQ®, a treatment for insomnia, in Singapore, Thailand, Indonesia, Malaysia, the Philippines, Vietnam, Australia and New Zealand. Under the agreement, Nxera will receive an upfront payment and is eligible to receive regulatory approval milestone payments in the licensed territories, royalties on sales and revenue from product supply.
- Nxera announced the submission of a Marketing Authorization Application (MAA) to South Korea’s MFDS for vamorolone for the treatment of DMD. The Company is targeting regulatory approval in South Korea in 2027 and commercial launch in 2028.
- Nxera announced that it has exercised its option to in-license lucerastat, a treatment candidate for Fabry disease, and entered into a co-development and commercialization agreement with Idorsia. Under the agreement, Nxera holds exclusive rights to develop and commercialize lucerastat in Japan, South Korea, Taiwan and selected other Asia-Pacific markets (excluding China). Nxera will pay Idorsia an upfront payment of CHF 7 million and contribute to the global Phase 3 development program, which is expected to support a regulatory filing as early as 2029.
Progress with partnered programs
- Neurocrine Biosciences (“Neurocrine”) initiated and dosed the first patients in a Phase 2 clinical study of NBI-1117570 (“NBI-’570”) – an oral dual muscarinic M1/M4 receptor agonist – in adults with schizophrenia. As a result, Nxera received milestone payments of US$22.5 million from Neurocrine, which were recognised as revenue in Q1 FY2026. Nxera announced that the U.S. Food and Drug Administration (FDA) had accepted the Investigational New Drug (IND) application for a Phase 2 study of NBI-1117567, a muscarinic M1-preferring (M1/M4) selective agonist, for cognitive impairment associated with Alzheimer’s disease. As a result, Nxera received a US$10 million milestone payment from Neurocrine, which was recognized in full as revenue in Q3 FY2026. The status of the other programs in the partnered muscarinic receptor agonist portfolio is as follows:
- Direclidine/NBI-1117568 (an oral, muscarinic M4-selective agonist): Phase 3 studies in schizophrenia ongoing, with readouts expected in 2027 and 2028; a Phase 2 study in bipolar mania also ongoing.
- NBI-1117569 (a dual M1/M4 agonist): results from a Phase 1 study targeting Alzheimer’s psychosis expected to be announced in 2027.
- Centessa Pharmaceuticals Limited (“Centessa”) entered a definitive agreement to be acquired by Eli Lilly and Company (“Lilly”) on 31 March 2026 and the transaction was successfully completed on 24 June 2026.
- The acquisition centers on Centessa’s novel orexin receptor 2 (OX2R) agonist series, cleminorexton/ORX750, ORX142 and ORX489, which was jointly created by Centessa and Nxera.
- Nxera remains entitled to receive certain success-based milestone payments and royalties for all these OX2R agonists, and the original contractual terms are unaffected by this transaction.
- Under the collaboration with Centessa, an early-stage development milestone was achieved for ORX142, the second novel orexin receptor 2 (OX2R) agonist, resulting in a payment of US$3.6 million. Two early-stage development milestones were also achieved for ORX489, an OX2R agonist being developed for neuropsychiatric disorders, resulting in further payments of US$4.8 million. A late-stage development milestone was achieved for the OX2R agonist program, resulting in a payment of US$8.6 million to Nxera.
- Achievement of a second development milestone under the multi-target collaboration and license agreement with Lilly targeting diabetes and metabolic diseases.
- As a result, Nxera has received an undisclosed milestone amount, which was recognized as revenue in Q1 2026.
- Achievement of a third and fourth important research milestone under the multi-target discovery collaboration with AbbVie focused on neurological diseases, resulting in US$20 million in milestone payments to Nxera. The majority of these payments will be recognized as revenue in 2026, with the remainder to be recognized in 2027 and beyond.
- License agreement signed with a newly established company (“NewCo”) co-founded by Nxera and leading healthcare and life sciences-focused investment firms regarding a GPCR-targeted program discovered and developed by Nxera.
- Nxera acquired an equity stake in NewCo and is entitled to receive up to US$275 million in milestone payments based on development and commercialization progress, as well as tiered royalties on sales.
- Nxera retains rights to develop and commercialize any assets generated by the program in Japan and certain Asia-Pacific territories.
- Nxera also participated in NewCo’s Series A financing.
Financial Highlights for the Nine-month Period ended 30 September 2026
- Revenue totalled JPY 27,742 million (US$175.0 million*), an increase of JPY 5,894 million (US$27.6 million) vs. the prior corresponding period. This increase was primarily due to the achievement of ten R&D milestones during the nine months ended 30 September 2026, compared with six in the prior corresponding period. In addition, product sales were higher in the first nine months of 2026.
- R&D expenses totalled JPY 8,963 million (US$56.5 million), a decrease of JPY 2,237 million (US$19.0 million) vs. the prior corresponding period. This decrease was primarily due to the maturation of several clinical programs, together with the adoption of a more streamlined R&D focus.
- SG&A expenses totalled JPY 8,333 million (US$52.6 million), a decrease of JPY 1,023 million (US$10.6 million) vs. the prior corresponding period. This decrease was primarily due to targeted cost reduction initiatives.
- Operating profit totalled JPY 3,175 million (US$20.0 million) vs. an operating loss of JPY 5,907 million (US$39.9 million) in the prior corresponding period.
- Profit before income tax totalled JPY 2,565 million (US$16.2 million) vs. a loss before income tax of JPY 6,838 million (US$46.1 million) in the prior corresponding period.
- Net profit totalled JPY 2,328 million (US$14.7 million) vs. a net loss of JPY 4,809 million (US$32.5 million) in the prior corresponding period.
- Core operating profit** totalled JPY 9,818 million (US$61.9 million) vs. a core operating loss of JPY 986 million (US$6.6 million) in the prior corresponding period.
- Cash and cash equivalents as of 30 September 2026 amounted to JPY 16,613 million (US$105.6 million), having decreased by JPY 3,752 million (US$24.5 million) from the prior financial year end primarily due to investing activities.
*Convenience conversion to US$ at the following rates: FY 2026: 1US$ =158.52 JPY; FY 2025: 1US$ =148.18 JPY; 30 Sep 2026: 1US$ = 157.29 JPY; 31 Dec 2025: 1US$ = 156.47 JPY
** Core operating profit / loss is an alternative performance measure which adjusts for material non-cash costs and one-off costs in order to provide insights into the recurring cash generation capability of the core business.
–END–
About Nxera Pharma
Nxera Pharma is a technology powered biopharma company in pursuit of new specialty medicines to improve the lives of patients with unmet needs in Japan and globally. The Company has built an agile, new-generation commercial business in Japan to develop and commercialize innovative medicines, including several launched products, to address this high-value, large and growing market and those in the broader APAC region. In addition, the Company is advancing an extensive pipeline internally and in partnership with leading pharma and biotech companies powered by its unique NxWave™ GPCR structure-based drug discovery platform. Nxera Pharma operates at key locations in Tokyo and Osaka (Japan), London and Cambridge (UK), Basel (Switzerland) and Seoul (South Korea) and is listed on the Tokyo Stock Exchange (ticker: 4565).
For more information, please visit www.nxera.life
LinkedIn: @NxeraPharma | X: @NxeraPharma | YouTube: @NxeraPharma
Enquiries:
Nxera – Media and Investor Relations
Shinya Tsuzuki, VP, Head of Investor Relations
+81 (0)3 5962 5718 | +44 (0)1223 949390 |IR@Nxera.life
MEDiSTRAVA (for International Media)
Mark Swallow, Frazer Hall, Erica Hollingsworth
+44 (0)203 928 6900 | Nxera@medistrava.com
Forward-looking statements
This press release contains forward-looking statements, including statements about the discovery, development, and commercialization of products. Various risks may cause Nxera Pharma Group’s actual results to differ materially from those expressed or implied by the forward looking statements, including: adverse results in clinical development programs; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialize products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialization activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Attachment
Q3 2026: double-digit growth in sales and business EPS
FY 2026: guidance upgraded
October 30, 2026
Q3 sales growth of 14.3% at CER1 and business earnings per share (EPS)2 of €3.55
- Pharma launches sales increased by 31.4%, reaching €1.4 billion, driven by ALTUVIIIO, Ayvakit, and Rezurock
- Dupixent sales increased by 34.8% to €5.7 billion, above €5 billion per quarter for the second time
- Vaccines sales decreased by 6.6% to €3.2 billion, impacted by the anticipated phasing in respiratory prevention
- Research and Development expenses reached €1.8 billion, broadly stable
- Selling and general expenses reached €2.3 billion, down by 0.9%, reflecting cost discipline
- Business EPS was €3.55, up by 19.6% at CER; 22.0% at actual exchange rates; IFRS EPS €2.52
Pipeline update
- Two regulatory approvals; in rare diseases and vaccines
- One regulatory submission acceptance and two regulatory designations (priority review and PRIME)
Guidance upgraded
- 2026 guidance is upgraded: sales are expected to grow by a low-teens percentage at CER. Business EPS at CER is expected to grow by a mid-teens percentage.3
Belén Garijo, Chief Executive Officer: “Sanofi achieved another strong quarter with double-digit sales growth of 14.3%, mainly driven by our new medicines and Dupixent. Business EPS increased by 19.6%, driven by cost discipline. The pipeline milestones included two regulatory approvals, one regulatory submission, and two additional regulatory designations. Our strong commercial and financial momentum to date leads us to raise our 2026 guidance: sales growth is now expected at a low-teens percentage and business EPS growth at a mid-teens percentage, underscoring our sustainable, profitable growth.
In the third quarter, we accelerated Sanofi’s transformation by expanding our long-standing alliance with Regeneron, which opens up further opportunities in immunology. We also continued to simplify our portfolio through a partnership with Cheplapharm covering a number of legacy medicines4.
We are confident about our ability to pursue our strong commercial and financial performance in the short and medium term. The whole organisation is focused on managing Sanofi’s post-Dupixent trajectory over the next decade. Our priority is to protect earnings through Dupixent’s loss of exclusivity. We have already begun taking action to improve R&D productivity. Business development and M&A will be critical to complement this transformation. We remain committed to our long-term capital allocation policy, including our progressive dividend.”
| Q3 2026 | Change | Change at CER |
YTD 2026 | Change | Change at CER |
|
| Net sales | €14,444m | +16.2% | +14.3% | €36,550m | +13.1% | +15.2% |
| IFRS net income | €3,021m | +7.8% | — | €4,979m | -42.2% | — |
| IFRS EPS | €2.52 | +9.6% | — | €4.15 | -41.1% | — |
| Free cash flow5 | €3,269m | +9.2% | — | €6,993m | +28.3% | — |
| Business operating income | €5,430m | +22.2% | +19.7% | €11,688m | +19.2% | +21.1% |
| Business net income | €4,255m | +20.0% | +17.6% | €9,020m | +17.2% | +19.1% |
| Business EPS | €3.55 | +22.0% | +19.6% | €7.52 | +19.4% | +21.3% |
1 Changes in net sales are at constant exchange rates (CER) unless otherwise stated (see definition in Appendix 8).
2 To facilitate an understanding of operational performance, Sanofi comments on business operating income, business net income, and business EPS
(bEPS), which are non-IFRS financial measures (see definitions in Appendix 8). The IFRS consolidated income statement is in Appendix 3, and a
reconciliation of IFRS net income to business net income is in Appendix 4.
3 Applying October 2026 average currency exchange rates, currency impacts are estimated at c.-1% on sales and at c.-1% on business EPS.
4 Subject to information and consultation procedures with employee representatives, regulatory approvals, and customary closing conditions.
5 Free cash flow is a non-IFRS financial measure (see definition in Appendix 8).
Attachment
Bouygues records a non-cash impairment on its stake in TF1. The Group reaffirms its confidence in TF1’s transformation strategy.
Within the framework of closing off its consolidated financial statements for the first nine months of 2026, which are due to be published on 5 November 2026, the Bouygues group will record an impairment on its stake in TF1 amounting to €569 million, corresponding to the full amount of goodwill relating to this stake. The carrying amount of TF1 in the Group’s consolidated balance sheet will therefore be reduced to €2.0 billion as of 30 September 2026, representing €9.67 per share (compared with €15.36 before the impairment). This charge, which is not tax-deductible, will be recognised in non-current profit or loss and will reduce Bouygues’ net profit attributable to the Group. It will have no impact on current operating profit from activities (COPA). Given that it will have no impact on the Group’s net debt, it will not impact its liquidity or its investment capacity.
The impairment will not affect the TF1 group’s consolidated financial statements. It will not impact the Bouygues SA parent company financial statements or distributable earnings either.
The impairment follows TF1’s announcement of a sharp decline in linear advertising revenue for the fourth consecutive quarter, confirming that the linear TV advertising market is shrinking faster than anticipated. This decline is the result of structural trends observed globally, characterised by rapid changes in the way televisual content is consumed and the increasing shift of advertising spend towards on-line platforms. This situation is exacerbated by the absence of any prospect of improvement in the short term in the macroeconomic and political environment, or in creating a more level regulatory playing field with the platforms.
This adjustment to the carrying amount does not call into question the strategic importance of TF1 to the Bouygues group. Bouygues reaffirms its confidence in the ability of TF1’s senior management to successfully continue the digital transformation of its business model and to adapt its offering to changing viewer and advertiser behaviour.
Bouygues will continue to support the implementation of TF1’s ambitious strategic roadmap, which is beginning to yield results and will enable it to consolidate its competitive position in the long term.
Disclaimer
Prior to its release, this information was classified by Bouygues SA as inside information within the meaning of applicable regulations (Article 7.1 of EU Regulation 596/2014 of 16 April 2014). Person responsible for notification: Didier Casas, General Counsel.
About Bouygues
Bouygues is a diversified services group operating in around 80 countries with close to 200,000 employees all working to make life better every day. The Group’s core activities drive growth by satisfying constantly changing and essential needs: Construction Division (Colas, Bouygues Construction, Bouygues Immobilier), energies and services (Equans), telecoms (Bouygues Telecom), media (TF1).
Contacts:
Investors and analysts contact: investors@bouygues.com • Tel.: +33 (0)1 44 20 10 00
Press contact: presse@bouygues.com • Tel.: +33 (0)1 44 20 12 01
BOUYGUES SA | 32 avenue Hoche | 75378 Paris cedex 08 | bouygues.com
Attachment
| Press Release |
| Nicox Reports First Half 2026 Financial Results |
October 30, 2026 – release at 7:30 am “With €8.4 million in cash at the end of August and limited further investment required by Nicox to support NCX 470, we expect our existing operations to be funded beyond the first quarter of 2028, significantly strengthening our financial position and visibility. NCX 470 has now entered an important new phase, moving towards commercialization in the United States and China, subject to regulatory approval, with financial support from our partners and the continued expertise of our team. The completion of late-stage clinical trials together with our partners assuming responsibility for regulatory and commercial activities and their funding has significantly reduced the risk profile of Nicox, which is now well positioned to benefit from the potential future success of NCX 470 while focusing resources on the Company’s next chapter. Subject to approval, successful launches would provide the long-term revenue to support future value creation. At the same time, our experienced development and corporate team provides a strong foundation from which to identify and pursue future growth opportunities in ophthalmology.” said Gavin Spencer, Chief Executive Officer of Nicox. As of June 30, 2026, Nicox SA had cash and cash equivalents of €6.0 million compared with €4.1 million as of December 31, 2025. The €3.0 million milestone payment from Kowa, recognised as revenue in the first half of 2026, was received after June 30, 2026, and is therefore not included in the cash position. Taking this receipt and the Company’s current cost structure into account, the Company believes its existing operations are funded for more than 12 months, based solely on the cash and cash equivalents available. The Company has provided a subsequent update on its cash runway as of August 31, 2026.
|
| About Nicox |
| Nicox SA is an international ophthalmology company developing innovative solutions to help maintain vision and improve ocular health. Nicox’s lead late-stage development program is NCX 470 (bimatoprost grenod), a novel nitric oxide-donating bimatoprost eye drop, for lowering intraocular pressure in patients with open-angle glaucoma or ocular hypertension, licensed to Ocumension Therapeutics for the Chinese, Korean and Southeast Asian markets and to Kowa in the rest of the world. Nicox’s first product, VYZULTA® in glaucoma, licensed exclusively worldwide to Bausch + Lomb, is available commercially in the U.S. and over 15 other territories. Nicox generates revenue from ZERVIATE® in allergic conjunctivitis, licensed in multiple geographies, including to Harrow, Inc. in the U.S., and Ocumension Therapeutics in the Chinese and in the majority of Southeast Asian markets. Nicox, headquartered in Sophia Antipolis, France, is listed on Euronext Growth Paris (Ticker symbol: ALCOX). For more information www.nicox.com. |
| Analyst coverage | |
| H.C. Wainwright & Co Yi Chen New York, U.S. | |
| The views expressed by analysts in their coverage of Nicox are those of the author and do not reflect the views of Nicox. Additionally, the information contained in their reports may not be correct or current. Nicox disavows any obligation to correct or to update the information contained in analyst reports. | |
| Contacts | |
| Nicox Gavin Spencer Chief Executive Officer T +33 (0)4 97 24 53 00 communications@nicox.com |
Media Sophie Baumont Rose Piquante Consulting T +33 6 27 74 74 49 sophie.baumont@rosepiquante-consulting.com |
| Disclaimer | |
| The information contained in this document may be modified without prior notice. This information includes forward-looking statements. Such forward-looking statements are not guarantees of future performance. These statements are based on current expectations or beliefs of the management of Nicox S.A. and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Nicox S.A. and its affiliates, directors, officers, employees, advisers or agents, do not undertake, nor do they have any obligation, to provide updates or to revise any forward-looking statements. Risks factors which are likely to have a material effect on Nicox’s business are presented in section 3 of the “Rapport Annuel 2025” and in section 4 of the “Rapport semestriel 2026” which are available on Nicox’s website (www.nicox.com). Finally, this press release may be drafted in the French and English languages. If both versions are interpreted differently, the French language version shall prevail. |
|
| Nicox S.A. Sundesk Sophia Antipolis, Bâtiment C, Emerald Square, Rue Evariste Galois, 06410 Biot, France T +33 (0)4 97 24 53 00 |
|
BALANCE SHEET
| (in thousands of euros) | June 30, 2026 | December 31, 2025 |
| ASSETS | ||
| Intangible fixed assets | – | 6 |
| Tangible fixed assets | 5 | 5 |
| Financial fixed assets | 164 | 139 |
| TOTAL FIXED ASSETS | 169 | 150 |
| Trade receivables and related accounts | 3 235 | 936 |
| Other receivables | 2 590 | 2 268 |
| Prepaid expenses | 206 | 1 280 |
| Cash and cash equivalents | 5 973 | 4 147 |
| TOTAL CURRENT ASSETS | 12 004 | 8 631 |
| Unrealized foreign exchange losses and valuation differences – Assets | 1 168 | 1 592 |
| Bond redemption premiums | 276 | – |
| TOTAL REGULARISATION ACCOUNTS | 1 444 | 1 592 |
| TOTAL ASSETS | 13 617 | 10 373 |
| LIABILITIES | ||
| Issued Capital | 975 | 884 |
| Share premium | 540 861 | 538 377 |
| Retained earnings | (533 241) | (530 828) |
| Net loss for the period | (521) | (2 413) |
| Total shareholders’ equity | 8 074 | 6 020 |
| Provisions for liabilities | 1 168 | 1 591 |
| Provisions for charges | 332 | 312 |
| Total Provisions for Liabilities and Charges | 1 500 | 1 903 |
| Convertible bonds | 2 784 | – |
| Loans and debts from lending institutions | 84 | 337 |
| Loans and other financial debts | 33 | 67 |
| Accounts payable and related accounts | 509 | 675 |
| Tax and social security liabilities | 549 | 751 |
| Deferred income | 83 | 617 |
| Total liabilities | 4 042 | 2 447 |
| Unrealized foreign exchange gains and valuation differences – Liabilities | 1 | 3 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 13 617 | 10 373 |
INCOME STATEMENT
| June 30, 2026 | June 30, 2025 | |
| (in thousands of euros) | ||
| Net sales (revenue) | 3 544 | 1 526 |
| Reversals of depreciation, impairment and provisions | – | – |
| Proceeds from disposals of intangible and tangible fixed assets | – | 1 |
| Other income | 5 | 143 |
| TOTAL OPERATING INCOME | 3 549 | 1 670 |
| Other purchases and external charges | (3 465) | (5 795) |
| Taxes, duties and similar payments (other than an income) | (53) | (44) |
| Salaries | (604) | (590) |
| Social charges | (311) | (253) |
| Depreciation and impairment of intangible and tangible fixed assets | (7) | (5) |
| Provision expense | (20) | (12) |
| Net book value of disposed intangible and tangible fixed assets | – | (1) |
| Other expenses | (52) | (123) |
| TOTAL OPERATING EXPENSES | (4 512) | (6 823) |
| OPERATING PROFIT (LOSS) | (963) | (5 153) |
| Income from equity investments | – | – |
| Income from other long-term securities and receivables | 59 | 122 |
| Other interest and similar income | 175 | 251 |
| Reversals of impairment and provisions | 1 616 | – |
| Foreign exchange gains | 23 | 46 |
| TOTAL FINANCIAL INCOME | 1 873 | 419 |
| Amortization, depreciation and financial provisions | (1 430) | (2 993) |
| Interest and similar expenses | (1) | (546) |
| Foreign exchange LOSS | – | (676) |
| TOTAL FINANCIAL EXPENSES | (1 431) | (4 215) |
| FINANCIAL PROFIT (LOSS) | 442 | (3 796) |
| PRE-TAX LOSS | (521) | (8 949) |
| EXCEPTIONAL INCOME | – | – |
| EXCEPTIONAL EXPENSES | – | – |
| EXCEPTIONAL INCOME (LOSS) | – | – |
| Research Tax credit | – | – |
| NET PROFIT & (LOSS) | (521) | (8 949) |
1 Only the figures related to the cash position and the debt of Nicox SA as of December 31, 2025, are audited; all other figures in this press release are non-audited.
Attachment
Dual-Target Approach Designed to Modulate Both Innate and Adaptive Immunity Advances Into Clinical Evaluation in Patients With SLE
NANJING, China, Oct. 30, 2026 (GLOBE NEWSWIRE) — Nanjing Leads Biolabs Co., Ltd. (“Leads Biolabs” or the “Company,” Stock Code: 9887.HK) today announced that the first patient with systemic lupus erythematosus (SLE) has been dosed in Part B of the Phase I clinical trial (LBL-047-CN001) of LBL-047, known outside Greater China as DNTH212, the Company’s first-in-class bifunctional fusion protein targeting blood dendritic cell antigen 2 (BDCA2) and the transmembrane activator and CAML interactor (TACI). The dosing marks LBL-047’s first entry into patients with autoimmune disease. By engaging two clinically validated disease-driving pathways that span innate and adaptive immunity, this differentiated design is now being directly evaluated in patients for the first time.
Part B of the study is designed to evaluate the safety, tolerability, pharmacokinetics/pharmacodynamics (PK/PD) and preliminary clinical efficacy of LBL-047 in patients with SLE. The study is led by Professors Ye Shuang and Chen Sheng at Renji Hospital, Shanghai Jiaotong University School of Medicine. Part A is being conducted at Shanghai Public Health Clinical Center, led by Professor Meng Xianmin. The accumulated safety and PK data from the Phase 1 Part A in healthy volunteers support advancing the study to the SLE cohort in accordance with the study protocol.
Executive Commentary
Dr. Charles Cai, Chief Medical Officer of Leads Biolabs, stated: “Progression of LBL-047 in the healthy-volunteer portion of the study has enabled us to advance into patients with SLE as planned. SLE is a heterogeneous autoimmune disease driven by complex interactions between innate and adaptive immunity, and targeting a single pathway may not adequately address its diverse underlying mechanisms. LBL-047’s bifunctional design aims to modulate two complementary disease-related pathways through a single molecule. With the first patient now dosed, we look forward to evaluating its safety, pharmacological activity, and preliminary clinical signals in patients. We will work closely with Dianthus to advance the global clinical development of LBL-047 and further evaluate its potential to offer a differentiated therapeutic approach for patients with SLE and other severe autoimmune diseases.”
About Systemic Lupus Erythematosus (SLE)
SLE is a chronic autoimmune disease that follows a relapsing-remitting course, with flares alternating with periods of remission. Patient needs are substantial and growing in both China and the United States: approximately 107,000 new cases are diagnosed in China each year and approximately 34,000 in the United States, while approximately 600,000 patients in China and 180,000 in the United States receive ongoing treatment. Driven by complex disease mechanisms and heterogeneity, pathogenic pathways involving interferon, B cells and plasma cells differ substantially across patients. Currently available antibody therapies cover only a limited patient population, while long-term use of conventional corticosteroids and broad-spectrum immunosuppressants carries multiple safety risks, including infection and osteoporosis. In refractory patients, disease remains active despite standard-of-care treatment, with progressive organ damage, leaving a prominent and urgent unmet medical need.
About LBL-047
LBL-047 is a bifunctional fusion protein composed of a humanized anti-blood dendritic cell antigen 2 (BDCA2) antibody and an engineered transmembrane activator and CAML interactor (TACI) ectodomain. It is designed to selectively deplete pDCs to reduce type 1 interferon production, while simultaneously inhibiting B-cell activating factor (BAFF) and a proliferation-inducing ligand (APRIL) signaling pathways to suppress B-cell activation, differentiation, and antibody production. By targeting two key drivers of autoimmune disease pathogenesis, this differentiated approach has the potential to address multiple autoimmune indications. Additionally, LBL-047 has been optimized with Fc engineering to extend its half-life, offering the potential for a patient-friendly subcutaneous self-administration regimen dosed Q4W or less frequently, supporting its potential as a first-line biologic therapy.
On October 16, 2025, Leads Biolabs entered into an exclusive global partnership with Dianthus, a clinical-stage biotechnology company developing next-generation therapeutics to address severe autoimmune diseases, with the total potential deal value reaching up to $1 billion. Under the agreement, Dianthus was granted exclusive global rights to research, develop, manufacture, and commercialize LBL-047 outside Greater China, where it is known as DNTH212, jointly advancing its global development to maximize clinical and commercial potential.
About Leads Biolabs
Founded in 2012, Leads Biolabs is a clinical-stage biotechnology company dedicated to the discovery, development, and commercialization of innovative therapies to address underserved medical needs in oncology, autoimmune, and other severe diseases both in China and globally.
Leads Biolabs is a front-runner in next-generation immuno-oncology treatments with a differentiated pipeline of 15 innovative drug candidates, including five clinical-stage drug candidates and one registration-stage asset.
The Company adopts a science-driven R&D approach and has successfully established comprehensive R&D capabilities spanning antibody discovery and engineering, in vivo and in vitro efficacy evaluation, as well as druggability assessment. It has also developed multiple proprietary technology platforms, including LeadsBody (a CD3 T-cell engager platform), X-body (a 4-1BB engager platform), TOPiKinectics (an ADC platform) and ImBiTDC (a TDC platform), which serve as the cornerstone for its continued innovation and have been validated by the clinical outcomes of its bispecific antibody portfolios.
Leads Biolabs has established integrated capabilities across early discovery, translational medicine, clinical development, CMC and business development. The innovative nature and competitive strengths of its drug candidates, coupled with its global perspectives, proactive strategy, and efficient clinical validation, have made it an attractive partner for leading industry players and investment institutions. For more information, please visit https://en.leadsbiolabs.com/
Contact:
yizi@leadsbiolabs.com
