The9's Investee Nanyang Biologics to Go Public on Nasdaq Through $1.5 Billion Merger

The9's Strategic Move: Nanyang Biologics Set to Go Public

In an exciting development within the biotechnology industry, The9 Limited (NASDAQ: NCTY) has announced a bold plan for its Singapore investee, Nanyang Biologics Pte. Ltd. (NYB). The company is preparing to merge with RF Acquisition Corp II (RFAI), a special purpose acquisition company (SPAC), in a move that positions NYB for a listing on Nasdaq. The estimated valuation of this business combination stands at an impressive $1.5 billion, promising to elevate NYB's presence in the drug discovery sector.

Details of the Merger

The proposed merger has been officially approved by the boards of both The9 and RF Acquisition Corp II, signaling a strong commitment to pursuing innovative solutions within the biotechnology landscape. Following the completion of the transaction, NYB is set to operate under a Nasdaq ticker symbol of “NYB.” This strategic move aims to leverage the scalability and efficiency of the public markets to advance NYB's capabilities in drug discovery and development.

Shareholders of NYB, including The9, will continue to hold a majority of shares in the combined entity, ensuring their influence in leadership and operational decisions. This aspect is crucial, particularly as NYB is striving to enhance its AI-driven methodologies for therapeutic discoveries that incorporate both pharmaceuticals and traditional medicine.

Commitment to Innovation and Collaboration

Nanyang Biologics has made headlines since June 2025 by clinching first prize in the SuperAI Genesis Startup Competition, which drew participation from over 700 startups across the region. This accolade underscores the company's innovative spirit and commitment to advancing healthcare through technology.

As part of its development strategy, NYB entered a groundbreaking partnership in August 2025 with tech giants Nvidia, Hewlett Packard Enterprise, and Equinix. The collaboration focuses on creating the world's largest library of natural compounds, essential for enhancing AI-driven drug discovery, and fostering a robust digital infrastructure that is compliant with necessary regulations. This endeavor highlights NYB's recognition of the importance of secure, cloud-based environments in the evolving field of pharmaceutical research, which often deals with sensitive scientific data.

Pioneering Drug Development

The strategic linchpin of NYB's portfolio lies in its robust drug-candidate pipeline, which targets difficult challenges in oncology, including cancers linked to deficiencies in DNA damage repair mechanisms. Its leading candidate, NB-A002, has shown promise in preclinical trials, representing a potential breakthrough therapy aimed at a challenging therapeutic target previously deemed undruggable.

Dr. Roland Ong, Chairman of NYB, commented on the significance of going public, expressing optimism about accelerating their AI-driven drug discovery efforts. He emphasized that this merger is a pivotal milestone that could help dismantle longstanding barriers in medical advancement while proposing novel opportunities for healthcare solutions.

The company's extensive library currently houses over 50,000 unique organisms, showcasing its dedication to locating and harnessing hidden compounds. This initiative is not only significant for drug development but also positions Singapore as a global hub for biodiversity intersecting with advanced artificial intelligence.

Looking Ahead

The merger and subsequent Nasdaq listing underscore the potential for transformative impacts on both NYB and the broader pharmaceutical industry. NYB’s innovative infrastructure, combined with the backing of influential industry giants, is expected to markedly accelerate the discovery of effective therapeutic drugs. As the health sector continues to evolve rapidly, the convergence of technology and natural compounds remains a pivotal focus area for the future of medicine.

In summary, the journey of Nanyang Biologics from a promising startup to a publicly listed entity highlights the increasing intersection of AI with traditional medicine, poised to unlock tremendous benefits for society at large as it endeavors to meet growing healthcare demands.

About The9 Limited

The9 Limited is a diversified internet company listed on Nasdaq since 2004, committed to various high-tech innovations. They engage in online gaming, Bitcoin mining, and investments in AI-driven drug discovery. For more information, you can visit their official website.

About Nanyang Biologics

Nanyang Biologics is a pioneering AI-driven biotechnology company deeply committed to enhancing the future of medicine through the careful integration of technology and natural compounds, supported by collaborations with top-tier global partners.

About RF Acquisition Corp II

RFAI is a SPAC incorporated in the Cayman Islands, strategically targeting deep technology businesses in Asia, with a strong focus on emerging fields such as artificial intelligence, quantum computing, and biotechnology.