Catalyst Biosciences, Inc. (Nasdaq: CBIO) (“Catalyst”) has announced completion of the business combination with GNI Group Ltd. and related entities. Catalyst received stockholder approval for all proposals necessary to complete the business combination at a special meeting of stockholders held on August 29, 2023. Catalyst effected a name change and a reverse stock split of Catalyst’s common stock immediately prior to the closing of the business combination. The combined company will operate under the name “Gyre Therapeutics, Inc.” (“Gyre”). As a result of the business combination, Beijing Continent Pharmaceuticals Co., Ltd. became a majority-owned subsidiary of Gyre.
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Source: https://www.globenewswire.com/news-release/2023/10/30/2769496/0/en/Catalyst-Biosciences-Announces-Completion-of-Business-Combination-With-Beijing-Continent-Pharmaceuticals-and-Implementation-of-Name-Change-and-Reverse-Stock-Split.html