SCHEDULE: NovaBridge Biosciences: Wei Fu, C-Bridge Group Boost Stake

An amendment to Schedule 13D reveals updated beneficial ownership percentages in NovaBridge Biosciences by Wei Fu and affiliated C-Bridge entities, with Mr. Fu holding 11.5%.

Summary

• This filing is Amendment No. 2 to the Schedule 13D originally filed on February 5, 2025, and amended on August 5, 2025, by a group of twelve reporting persons affiliated with C-Bridge Capital and Mr. Wei Fu.
• The reporting persons collectively hold significant beneficial ownership in NovaBridge Biosciences' Ordinary Shares, including those underlying American Depository Shares (ADSs).
• Mr. Wei Fu, a citizen of Singapore, is deemed to beneficially own 30,499,709 ordinary shares, representing 11.5% of the Issuer's outstanding ordinary shares.
• C-Bridge Capital GP, Ltd. beneficially owns 23,369,824 ordinary shares, representing 8.8% of the class.
• C-Bridge Healthcare Fund II, L.P. and C-Bridge Healthcare Fund GP II, L.P. each beneficially own 14,153,710 ordinary shares, representing 5.3% of the class.
• CBC Investment I-Mab Limited beneficially owns 11,784,164 ordinary shares, representing 4.4% of the class.
• I-Bridge Healthcare Fund, L.P., I-Bridge Healthcare GP, L.P., and I-Bridge Capital GP, Ltd. each beneficially own 9,216,114 ordinary shares, representing 3.5% of the class.
• Nova Aqua Limited beneficially owns 7,129,885 ordinary shares, representing 2.7% of the class.
• CBC SPVII LIMITED beneficially owns 5,574,560 ordinary shares, representing 2.1% of the class.
• IBC Investment Seven Limited beneficially owns 3,641,554 ordinary shares, representing 1.4% of the class.
• C-Bridge II Investment Ten Limited beneficially owns 2,369,546 ordinary shares, representing 0.9% of the class.
• The percentages are calculated based on 265,169,373 ordinary shares outstanding following an underwritten offering described in the Issuer's Form 6-K filed on December 18, 2025.
• Nova Aqua Limited effected purchases of ADSs in open market transactions through a broker during the past 60 days, with details provided in Schedule I (not included in this excerpt).

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive update, confirming a significant, stable ownership structure by a group of investment funds and a key individual, which can provide long-term stability but also implies concentrated control.

Positives

• The continued significant beneficial ownership by a group of investment funds and a key individual like Wei Fu may signal a long-term investment perspective and potential stability for NovaBridge Biosciences.
• The detailed disclosure of ownership structure provides transparency regarding the control dynamics within the company.

Negatives

• The concentrated beneficial ownership, particularly by Mr. Wei Fu and entities he controls, could lead to significant influence over corporate decisions, potentially not always aligning with the interests of minority shareholders.

Risks

• Concentration of voting power: Mr. Wei Fu, through direct and indirect control of various entities, holds a substantial portion of the voting and dispositive power, which could allow him to exert significant influence over the Issuer's strategic direction and corporate governance.
• Potential for related party influence: The intricate web of control among the C-Bridge affiliated entities and Mr. Fu raises the potential for decisions that primarily benefit the controlling group rather than all shareholders.

Future Outlook

This filing does not contain any forward-looking statements or guidance from NovaBridge Biosciences or the reporting persons regarding the Issuer's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that significant ownership by a group of investment funds and a key individual like Wei Fu in a biotech company often signals a long-term investment thesis, potentially providing stability but also raising questions about governance and strategic direction given the concentrated control. Such ownership structures are common in early to mid-stage biotech firms where strategic investors play a crucial role.

Related Party Transactions

• The filing details an intricate control structure where Mr. Wei Fu is deemed to control C-Bridge Capital GP, Ltd., which in turn controls C-Bridge Healthcare Fund GP II, L.P. and I-Bridge Capital GP, Ltd., thereby establishing a related-party relationship among many of the reporting entities.
• Nova Aqua Limited, another reporting person, is held through a trust established by Mr. Wei Fu (as settlor) for the benefit of himself and his family, further solidifying the related-party nature of the beneficial ownership group.

Stakeholder Impact

• Shareholders should be aware of the concentrated voting and dispositive power held by Mr. Fu and the C-Bridge affiliated entities, which could significantly influence strategic decisions, corporate governance, and the overall direction of NovaBridge Biosciences.
• The stability provided by a significant, long-term investor group could be beneficial for the company's strategic planning and execution.

Key Dates

Recommendation

This Schedule 13D/A filing primarily updates beneficial ownership information and clarifies the control structure of a significant shareholder group. It does not contain new operational or financial data that would warrant a change in investment recommendation. The concentrated ownership by the C-Bridge group and Wei Fu suggests a stable, long-term investment, but without further information on the company's performance or strategic initiatives, a 'hold' recommendation is appropriate for existing investors, while new investors should seek broader company analysis.

Keywords

NovaBridge Biosciences, Schedule 13D, beneficial ownership, Wei Fu, C-Bridge Capital, investment funds, biotechnology, pharmaceuticals, SEC filing, equity stake