LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) announced today that its shareholders have approved the previously announced merger agreement, moving the company closer to becoming a privately held entity. The extraordinary general meeting (EGM) held on June 19, 2026, saw approximately 92.3% of the company’s total outstanding ordinary shares represented, with about 86.2% of the total votes cast in favor of the merger.
The merger agreement, originally dated November 4, 2025, and amended on April 29, 2026, involves the company, Oceanpine Skyline Inc. (Parent), and Oceanpine Merger Sub Inc., a wholly owned subsidiary of Parent. Under the terms, Merger Sub will merge into LakeShore Biopharma, with the company continuing as the surviving entity and becoming a wholly owned subsidiary of Parent. The plan of merger will be filed with the Registrar of Companies of the Cayman Islands.
Completion of the merger remains subject to the satisfaction or waiver of conditions outlined in the merger agreement. The company stated it will work with the other parties to finalize the transaction in due course. Once consummated, LakeShore Biopharma’s shares and warrants will cease to be listed on any public market, including the OTC Pink tier of the OTC Markets, and will no longer be registered under Section 12 of the Securities Exchange Act of 1934.
This development marks a significant milestone for LakeShore Biopharma, formerly known as YS Biopharma, which focuses on discovering, developing, manufacturing, and delivering vaccines and therapeutic biologics for infectious diseases and cancer. The company’s proprietary PIKA® immunomodulating technology platform underpins its pipeline targeting Rabies, Hepatitis B, Influenza, and other viral infections. With operations in China, Singapore, and the Philippines, the company has positioned itself as a global player in the biopharmaceutical industry.
The shareholder approval underscores confidence in the merger’s strategic rationale, which is expected to provide the company with greater operational flexibility away from public market pressures. However, the transaction is not without risks, as highlighted in the company’s forward-looking statements. Potential challenges include the possibility that the merger may not close if conditions are not met, financing may not be available, or other unforeseen events arise. These uncertainties are detailed in the company’s filings with the U.S. Securities and Exchange Commission, including the Schedule 13E-3 and proxy statement.
For more information about LakeShore Biopharma and its pipeline, visit https://investors.lakeshorebio.com/. The original press release is available at www.newmediawire.com.
