SAN FRANCISCO, September 2, 2025 — Leads & Copy — FibroGen, Inc. (NASDAQ: FGEN) announced the completion of the sale of its China subsidiary to AstraZeneca for approximately $220 million. The total consideration includes $85 million in enterprise value and roughly $135 million in net cash held in China.
The company repaid its term loan facility to Morgan Stanley Tactical Value for about $81 million upon closing. FibroGen maintains its rights to roxadustat in the U.S. and markets not licensed to Astellas, excluding China and South Korea.
Following a meeting with the FDA, FibroGen intends to file the pivotal Phase 3 clinical trial protocol for roxadustat to treat anemia in patients with LR-MDS and high transfusion burden in the fourth quarter of 2025. The Phase 2 monotherapy trial of FG-3246 in patients with mCRPC is on track to start in the third quarter of 2025.
Thane Wettig, CEO of FibroGen, expressed gratitude to the teams and AstraZeneca for their commitment and partnership. BofA Securities, Inc. acted as the exclusive financial advisor, and Ropes & Gray LLP was the primary legal advisor for FibroGen.
David DeLucia, CFA
Senior Vice President and Chief Financial Officer
ir@fibrogen.com
Source: FibroGen
