Company: WHWK
Filing Date: 2025-02-05
Form Type: DEFA14A
Source: 0001193125-25-020865
Chunk: 3

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-02-05
Form: DEFA14A
Chunk 3
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 competitively and have a relatively short path to human trials.

Licensing the rights to this promising ADC portfolio allows us to reset and enhance our pipeline. To realize the full potential of these assets, unlock our opportunity to deliver life-changing therapies and maximize stockholder value, the Board determined that the Company would require additional capital beyond the proceeds from the sale of FYARRO. To that end, the Board carefully considered the anticipated capital needs of the Company and worked with its independent financial advisor to define the optimal financing structure, size and valuation. Through the Company’s financial advisor, approximately 50 potential investors showed initial interest in the new ADC portfolio and the potential PIPE financing. Under the oversight of the Board’s PIPE Financing Committee, consisting solely of directors disinterested with respect to the PIPE financing, Aadi’s management team and independent financial advisor assembled a sophisticated, high-quality investor syndicate. Some of these investors – like Avoro Capital, KVP Capital and Acuta Capital Partners – are longtime partners who have played a critical role in our progress and growth and have confidence in our team and these ADC assets. Other PIPE investors are new to Aadi’s journey; after undertaking significant diligence efforts, they decided to support our revitalized portfolio, our new strategic plan, our experienced leadership team and our prospects for maximizing long-term stockholder value. The Board is grateful for the endorsement of this distinguished group of investors and for their support and guidance for our plans. A New Chapter Upon closing these three strategic transactions, we believe Aadi will be well positioned to develop next-generation oncology therapies and create long-term value for stockholders. We believe we will have an enhanced pipeline of leading ADC assets, the capital we need to unlock the potential of our portfolio, the support of credible investors and an augmented Board with the skills and experience necessary to oversee our strategic plan. Baiteng Zhao, PhD, a seasoned biotech executive, has been appointed to Aadi’s Board to strengthen the Board’s ADC expertise and help oversee the development of our new portfolio. Dr. Zhao co-foundedProfoundBio, a clinical stage next-genADC developer, in 2018 and served as the Chairman and CEO of ProfoundBio until it was acquired by Genmab for $1.8 billion in May 2024. Prior to ProfoundBio, Dr. Zhao worked at Seagen, another ADC company, which was acquired by Pfizer in December 2023 for $43 billion. We believe the capital markets recognize the upside of the opportunity in front of us: upon announcement of these