Whitehawk Therapeutics Completes Strategic Transformation with Successful Closing of Sale of Aadi Subsidiary to Kaken Pharmaceuticals

MORRISTOWN, N.J., March 26, 2025 — Whitehawk Therapeutics, Inc. (Nasdaq: WHWK), an oncology therapeutics company applying advanced technologies to established tumor biology to efficiently deliver improved cancer treatments, today announced the successful closing of the divestiture of Aadi Subsidiary, Inc. ("Aadi Sub") to Kaken Pharmaceuticals ("Kaken") for a cash payment of $100 million plus certain customary adjustments, completing the strategic transformation first announced in December 2024. Kaken assumes ownership of Aadi Sub, including the Aadi Bioscience name, trademarks and the FYARRO® (sirolimus protein-bound particles for injectable suspension) (albumin-bound) business.

Whitehawk expects to use the proceeds from the divestiture, as well as from the recent $100M PIPE financing, to develop its portfolio of antibody drug conjugates (ADCs), as well as for general corporate and working capital purposes. Cash is expected to fund operations into 2028, enabling anticipated key clinical data readouts for the three assets.

About Whitehawk Therapeutics

Whitehawk Therapeutics is a preclinical stage oncology therapeutics company applying advanced technologies to established tumor biology to efficiently deliver improved cancer treatments. Whitehawk's advanced three-asset ADC portfolio is engineered to overcome the limitations of first-generation predecessors to deliver a meaningful impact for patients with difficult-to-treat cancers. These assets are in-licensed from WuXi Biologics under an exclusive development and global commercialization agreement. More information on the Company is available at www.whitehawktx.com and connect with us on LinkedIn.