By Fineline Cube 
Shenzhen Chipscreen Biosciences Co., Ltd. (SHA: 688321) has revised its private placement proceeds to RMB 950 million (USD 130 million), down from the previously announced RMB 960 million (USD 133 million) in November 2023.
Fund Allocation Breakdown
The company has detailed the allocation of the revised proceeds as follows:
- R&D Investment: RMB 350 million (USD 48 million) will be allocated to the research and development of in-house-developed drug candidates.
- Manufacturing Facility Construction: Another RMB 350 million (USD 48 million) will be used for the construction of a new GMP-compliant manufacturing facility in Pengzhou.
- Working Capital: The remaining RMB 250 million (USD 34 million) will be utilized for working capital supplementation.-Fineline Info & Tech