• Combined company to operate as LianMedical
• LianMedical to focus on advancing patient access to innovative medical technologies in China and other Asia Pacific markets
PRINCETON, N.J. & SHANGHAI--(BUSINESS WIRE)--LianMedical (formerly known as LianBio) (the "Company"), an exempted company limited by shares incorporated under the laws of the Cayman Islands, announced the completion of the previously announced merger between LianBio ("LianBio") and LianMedical (the "Merging Company"). In accordance with the plan of merger which was approved by the shareholders, the Merging Company merged with and into LianBio, with LianBio continuing as the surviving company. Effective upon completion of the merger, the Company changed its name from "LianBio" to "LianMedical."
Headquartered in Shanghai, the Company is a medical device company focused on enhancing patient access to world-class innovations by bringing cutting-edge global medical technologies to China and other Asia Pacific markets. The Company focuses on the development and commercialization of best-in-class medical device innovations, with an emphasis on addressing significant unmet clinical needs and accelerating the availability of global innovations in these therapeutic areas, and has begun generating commercial revenue from its initial product activities.
"This transaction marks an important milestone for the Company as we continue building a platform focused on accelerating patient access to differentiated medical technologies across China and other Asian markets," said Luxin Wang, CEO of the Company. "We believe the Company is well positioned to pursue a disciplined, portfolio-oriented medtech strategy in areas of significant unmet clinical need, beginning with heart failure."
Pursuant to the plan of merger, each ordinary share of the Merging Company issued and outstanding immediately prior to the effective time of the merger was cancelled in exchange for the issuance of 68.3775 ordinary shares of the Company, with any fractional ordinary shares rounded up to the nearest whole ordinary share of the Company. Each ordinary share of LianBio issued and outstanding immediately prior to the effective time continued as a validly issued, fully paid and non-assessable ordinary share of the Company, subject to the treatment of dissenting shares under Cayman Islands law.
The Merging Company was advised by Ropes & Gray LLP on U.S. legal matters and Travers Thorp Alberga on Cayman Islands legal matters. LianBio was advised by Womble Bond Dickinson (US) LLP on U.S. legal matters and Mourant Ozannes (Cayman) LLP on Cayman Islands legal matters.
The Company's American Depositary Shares continue to be traded on the OTC Pink under the symbol "LIANY."
About the Company
The Company is a medical device company with the mission to enhance patient access to world-class innovations. The Company is dedicated to advancing patient care through cutting-edge products and technologies, with a focus on bringing innovative medical technologies to China and other Asia Pacific markets.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding the Company's strategy, business plans, product development and commercialization activities, market opportunities, partnerships, expected benefits of the merger, governance, and future prospects. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, among others, risks related to the Company's ability to execute its business strategy, develop and commercialize medical device products, maintain and expand strategic partnerships, obtain regulatory approvals, access capital, operate as a public company, and other risks described in the Company's public disclosures. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law.
Contacts
Luxin Wang
Chief Executive Officer, LianMedical
investors@lian-medical.com
• LianMedical to focus on advancing patient access to innovative medical technologies in China and other Asia Pacific markets
PRINCETON, N.J. & SHANGHAI--(BUSINESS WIRE)--LianMedical (formerly known as LianBio) (the "Company"), an exempted company limited by shares incorporated under the laws of the Cayman Islands, announced the completion of the previously announced merger between LianBio ("LianBio") and LianMedical (the "Merging Company"). In accordance with the plan of merger which was approved by the shareholders, the Merging Company merged with and into LianBio, with LianBio continuing as the surviving company. Effective upon completion of the merger, the Company changed its name from "LianBio" to "LianMedical."
Headquartered in Shanghai, the Company is a medical device company focused on enhancing patient access to world-class innovations by bringing cutting-edge global medical technologies to China and other Asia Pacific markets. The Company focuses on the development and commercialization of best-in-class medical device innovations, with an emphasis on addressing significant unmet clinical needs and accelerating the availability of global innovations in these therapeutic areas, and has begun generating commercial revenue from its initial product activities.
"This transaction marks an important milestone for the Company as we continue building a platform focused on accelerating patient access to differentiated medical technologies across China and other Asian markets," said Luxin Wang, CEO of the Company. "We believe the Company is well positioned to pursue a disciplined, portfolio-oriented medtech strategy in areas of significant unmet clinical need, beginning with heart failure."
Pursuant to the plan of merger, each ordinary share of the Merging Company issued and outstanding immediately prior to the effective time of the merger was cancelled in exchange for the issuance of 68.3775 ordinary shares of the Company, with any fractional ordinary shares rounded up to the nearest whole ordinary share of the Company. Each ordinary share of LianBio issued and outstanding immediately prior to the effective time continued as a validly issued, fully paid and non-assessable ordinary share of the Company, subject to the treatment of dissenting shares under Cayman Islands law.
The Merging Company was advised by Ropes & Gray LLP on U.S. legal matters and Travers Thorp Alberga on Cayman Islands legal matters. LianBio was advised by Womble Bond Dickinson (US) LLP on U.S. legal matters and Mourant Ozannes (Cayman) LLP on Cayman Islands legal matters.
The Company's American Depositary Shares continue to be traded on the OTC Pink under the symbol "LIANY."
About the Company
The Company is a medical device company with the mission to enhance patient access to world-class innovations. The Company is dedicated to advancing patient care through cutting-edge products and technologies, with a focus on bringing innovative medical technologies to China and other Asia Pacific markets.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding the Company's strategy, business plans, product development and commercialization activities, market opportunities, partnerships, expected benefits of the merger, governance, and future prospects. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, among others, risks related to the Company's ability to execute its business strategy, develop and commercialize medical device products, maintain and expand strategic partnerships, obtain regulatory approvals, access capital, operate as a public company, and other risks described in the Company's public disclosures. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law.
Contacts
Luxin Wang
Chief Executive Officer, LianMedical
investors@lian-medical.com
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