LakeShore Biopharma, a global biopharmaceutical company focused on vaccines and biologics, has agreed to be acquired by Oceanpine Skyline Inc. for approximately $37 million in equity. The transaction will make LakeShore a wholly owned subsidiary and will result in its delisting from the OTC Pink market.
Under the terms, each outstanding share of LakeShore will be cancelled in exchange for $0.90 in cash, representing a 15.4 % premium to the August 15, 2025 closing price and a 16.6 % premium to the 15‑day average price. The deal is financed by a cash contribution from Oceanpine Capital Inc. and an equity rollover by a group of shareholders.
The board of LakeShore approved the agreement and recommended that shareholders vote to authorize the merger. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.
LakeShore had been delisted from Nasdaq on September 22, 2025 for failing to meet the minimum bid price requirement and has since traded on the OTC Pink Open Market. The going‑private transaction is intended to provide the company with greater operational flexibility and to allow it to focus on its PIKA® immunomodulating technology platform without the regulatory burdens of a public listing.
In its most recent financial results, LakeShore reported a net income of $1.2 million for the first half of fiscal 2025, the first positive earnings figure since 2013, and a narrowed net loss for the full fiscal year. Management cited improved product pipeline performance and cost‑control measures as drivers of the turnaround.
Oceanpine Capital, a Beijing‑based growth‑equity firm, has invested in several life‑science companies and will provide strategic support to LakeShore as it expands its vaccine and biologics portfolio.
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