Biopharmaceutical company YS Biopharma Co, Ltd (Nasdaq: YS) on Wednesday declared the full repayment of a USD40m loan facility borrowed under an agreement dated 16 March 2022. The repayment signifies a significant milestone for the company, relieving it of associated royalty obligations and providing greater financial flexibility.

Dr David Shao, Director, President and CEO of YS Biopharma, was quoted as saying: "The repayment represents a burden lifted from the shoulders of our company. With the loan facility and its associated royalty obligations out of the way, we can now devote more resources to executing on our business plan, and move forward with an improved capital structure. This enhanced strength will give us greater flexibility in our financial operation and business operation strategies, and we are eager to forge ahead now that our debt burden has been substantially reduced."

YS Biopharma specialises in vaccines and therapeutic biologics for infectious diseases and cancer. Leveraging its proprietary PIKA immunomodulating technology platform, the company has developed a range of preventive and therapeutic biologics targeting diseases such as Rabies, Coronavirus, Hepatitis B, Influenza and Shingles.

Operating across multiple countries, YS Biopharma is led by a management team with extensive experience in the biopharmaceutical industry.