07:35 AM EDT, 09/02/2025 (MT Newswires) -- FibroGen ( FGEN ) said Tuesday that it has completed the sale of its Chinese subsidiary to AstraZeneca ( AZN ) for about $220 million.

The company said it used the proceeds to repay its term loan facility of about $81 million to investment funds managed by Morgan Stanley Tactical Value. The sale also extends its cash runway into 2028, FibroGen ( FGEN ) added.

FibroGen ( FGEN ) said it maintains rights to roxadustat in the US and all other markets not licensed to Astellas, apart from China and South Korea. The company also said it plans to file the phase 3 clinical trial protocol for roxadustat as treatment for anemia in patients with LR-MDS and high transfusion burden in Q4.

Shares of FibroGen ( FGEN ) were up by nearly 4% in recent premarket activity Tuesday.