NYB Signs SPAC Merger Deal With RF Acquisition Corp II To Go Public; Nasdaq Listing Planned Under Ticker "NYB"

• Nanyang Biologics Pte. Ltd., together with its subsidiaries (collectively, the "Company", "we" or "NYB"), offers a comprehensive drug discovery platform that integrates the wisdom of traditional medicine with state-of-the-art technologies.
• Patented Flagship NB-A002 is a First-in-class DNA Damage Response ("DDR") therapeutic product candidate, targeting the previously undruggable target ILF2, inducing synthetic lethality in DDR and Homologous Recombination Deficiency Cancers.
• Patented Drug-Target Interaction Graph Neural Network ("DTIGN") is a Structure-and-Outcome-guided discovery AI Model, designed to enable faster identification of promising drug candidates and significantly reduce R&D costs.
• Pioneering collaboration with the Nanyang Technological University Singapore ("NTU"). The NYB-NTU joint laboratory aims to revolutionize drug discovery through the power of AI and the medicinal properties of natural compounds.
• NYB holds a growing portfolio of patents across its drug-candidate pipeline and proprietary nutraceuticals.

SINGAPORE, Oct. 2, 2025 /PRNewswire/ -- On October 2nd, 2025, NYB announced that it entered into a business combination agreement ("BCA") with RF Acquisition Corp II ("RFAI") (NASDAQ:RFAI), a publicly traded special purpose acquisition company, in a transaction aimed at making NYB become a publicly listed company (the "Proposed Transaction"). Following the closing, the combined company (the "Combined Company") is expected to be listed on Nasdaq under the reserved ticker symbol "NYB."

The Combined Company will continue to be led by serial entrepreneur Roland Ong, Chairman of NYB and Professor Li Hoi Yeung, Lead Principal Investigator of the joint laboratory, along with other key members of the executive leadership team. Mr. Ong and Professor Li co-founded the joint laboratory initiative between NTU and NYB five years ago, receiving funding support from key investors The9 Limited (NASDAQ:NCTY) ("The9"), Mercatus Capital, a Singapore-based family office, and other shareholders.

NYB's shareholders, including The9 and Mercatus Capital will retain a majority of the Combined Company's outstanding shares, and NYB will designate a majority of the director nominees for the Combined Company's board.