Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 106

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4
Chunk 106
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OP1) meeting of SACT-1 with the US FDA. The FDA generally agreed with the chemistry-manufacturing-control (CMC)
strategy and our proposed clinical development plan for SACT-1 Phase 1/2 trials. We commenced clinical validation of our molecular based
PathsDxTest and will continue to undergo validations in parallel with its pre-commercialization process.

During the second quarter
of 2023, the Company made a decision to streamline its operations by terminating clinic services and suspending non-lead R& D projects.
This measure is aimed at optimizing the allocation of our resources and focusing our efforts on advancing our lead projects, which hold
the most promise for commercial success and beneficial impact. This decision aligns with our commitment to enhance shareholder value and
effectively drive our core objectives forward in the competitive landscape.

Prior to March 2017, the Company
had pursued passive healthcare related investments in early-stage companies primarily in the United States. However, we have since ceased
pursuing further passive investment operations and intend to exit all such portfolio investments over an appropriate timeframe to focus
resources on our current business.

On September 25, 2020, Aptorum,
via its subsidiaries, enters into a series of transactions with Accelerate Technologies Pte. Ltd.’s (“ Accelerate Technologies”),
the commercialization arm of the Singapore Agency for Science, Technology and Research (“ A*STAR”), in relation to the research
and development of PathsDxTest, a novel molecular-based rapid pathogen identification and detection diagnostics technology,
through its subsidiaries. Specifically, Paths Diagnostics Pte. Limited, one of the Company’s subsidiaries, entered into an Exclusive
Licence Agreement with Accelerate Technologies to co-develop the PathsDxTest technology. The term of the Exclusive Licence
Agreement is described in Exhibit 4.62 on Form 20-F filed with the SEC on April 19, 2021. Furthermore, Accelerate Technologies, the inventors
of the PathsDxTest technologies in A*STAR (“ Founding Scientists”), Paths Diagnostics Pte. Limited, and Paths
Innovations Limited, a wholly owned subsidiary of the Company, entered into a Share Subscription & Shareholders Agreement on the
same day to subscribe ordinary shares of Paths Diagnostics Pte. Limited. The shares are subscribed and issued in two tranches, the first
tranche has taken place at closing of the Share Subscription & Shareholders Agreement, while the second tranche will take place after
the certain first