What the Combined Company Will Look Like
Once the deal is finalized, Nanyang intends to speed up discovery of next-generation drug molecules, while also mining natural sources for active ingredients that could power pharmaceuticals and traditional medicine.
The combined entity will remain under Ong’s leadership, with existing Nanyang shareholders—such as The9 and Mercatus Capital—retaining majority control. Nanyang will also have the power to nominate most board directors, ensuring its influence remains dominant.
RF Acquisition’s Chairman and CEO, Tse Meng Ng, praised the partnership.
“Nanyang has built a truly differentiated AI-powered platform with a strong therapeutic pipeline,” Ng said. “This transaction reflects our confidence in Nanyang’s ability to transform the future of medicine while delivering long-term value for patients and shareholders alike.”
Deal Timeline and Legal Teams
The deal is projected to close in the first or second quarter of 2026, pending regulatory and shareholder approvals.
Nanyang has tapped Winston & Strawn LLP as legal counsel, with Insight Law LLC advising from Singapore and Maples and Calder (Hong Kong) LLP handling Cayman Islands law. Legal representation for RF Acquisition Corp. II was not disclosed.
