UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

October 18 2019

(Commission File No. 001-38475)

 

ASLAN PHARMACEUTICALS LIMITED

(REG. NO. 289175)

(Translation of registrant’s name into English)

 

CAYMAN ISLANDS

(Jurisdiction of incorporation or organisation)

83 CLEMENCEAU AVENUE

#12-03 UE SQUARE

SINGAPORE 239920

(Address of registrant’s principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  ☒ Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1):

    Yes  ☐    No  ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7):

    Yes  ☐    No  ☒

 

 

 

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Announcement of closing of US$3 million loan facility

On October 18, 2019, ASLAN Pharmaceuticals Limited issued a press release announcing that it has secured a US$3 million loan facility provided by the company’s chairman, members of the board, and several major investors. The loan facility, approved by the board of directors on 18^th October 2019, will be used to provide the company with additional working capital to support ongoing research and development programs and clinical studies.  In the event that ASLAN delists from Taiwan, investors will either have the right to: (1) convert the principal amount and accrued interest into ASLAN ADRs at end of the loan term or (2) receive warrants allowing the lender to subscribe for new ADRs of ASLAN at a pre-specified price.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

 

Date: October 18, 2019

 

 

Exhibit 99.1

PRESS RELEASE

 

 

 

ASLAN PHARMACEUTICALS ANNOUNCES CLOSING OF US$3 MILLION LOAN FACILITY

 

Singapore, 18 October 2019 – ASLAN Pharmaceuticals (Nasdaq:ASLN, TPEx:6497), a clinical-stage oncology and immunology focused biopharma company, today announced it has secured a US$3 million loan facility provided by the company’s chairman, members of the board, and several major investors. The loan facility will be used to provide the company with additional working capital to support ongoing research and development programs and clinical studies.

 

Commenting on the loan facility, Dr Carl Firth, Chief Executive Officer, ASLAN Pharmaceuticals said: “This loan facility puts ASLAN in a stronger cash position leading up to our significant clinical readouts in the fourth quarter. These anticipated data include the topline results for varlitinib in second line biliary tract cancer from the pivotal TreeTopp trial expected in November, as well as the first efficacy data from ASLAN004 in moderate to severe atopic dermatitis in early 2020. We are grateful for our existing stakeholder’s confidence in our development pipeline and ongoing financial support as we approach these important clinical milestones.”

 

Ends

 

 

 

 

 

About ASLAN Pharmaceuticals

ASLAN Pharmaceuticals(Nasdaq:ASLN, TPEx:6497) is a clinical-stage oncology and immunology focused biopharma company targeting cancers that are both highly prevalent in Asia and orphan indications in the United States and Europe. Led by a senior management team with extensive experience in global and regional development and commercialisation, ASLAN is headquartered in Singapore and has offices in Taiwan and China. ASLAN’s clinical portfolio is comprised of three product candidates which target validated growth pathways applied to new patient segments, novel immune checkpoints and novel cancer metabolic pathways. ASLAN’s partners include Array BioPharma, Bristol-Myers Squibb, Almirall and CSL. For additional information please visit www.aslanpharma.com

Forward looking statements

This release contains forward-looking statements. These statements are based on the current beliefs and expectations of the management of ASLAN Pharmaceuticals Limited and/or its affiliates (the "Company"). These forward-looking statements may include, but are not limited to, statements regarding the timing, scope, progress and outcome of the Company’s on-going clinical studies, the Company’s business strategy, the Company’s plans to develop and commercialise its product candidates, the safety and efficacy of the Company’s product candidates, the Company’s plans and expected timing with respect to regulatory filings and approvals, and the size and growth potential of the markets for the Company’s product candidates. These forward-looking statements are based on management's current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and inherently involve significant known and unknown risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without

 

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limitation the risk factors described in the Company’s US Securities and Exchange Commission filings and reports (Commission File No. 001-38475), including the Company’s Annual Report on Form 20-F for the year ended December 31, 2018 filed with the US Securities and Exchange Commission on April 29, 2019.All statements other than statements of historical fact are forward-looking statements. The words “believe,” “may,” “might,” “could,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan,” or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections and other forward-looking statements. Estimates, projections and other forward-looking statements speak only as of the date they were made, and, except to the extent required by law, the Company undertakes no obligation to update or review any estimate, projection or forward-looking statement.