TAIPEI, Taiwan & NEW YORK, Jan. 14, 2026 (GLOBE NEWSWIRE) -- SL BIO Ltd. ("SL Bio" or the “Company”), a biomedical company specializing in developing innovative cellular and gene therapies, and Horizon Space Acquisition II Corp. (Nasdaq: HSPT) ("HSPT"), a publicly traded special purpose acquisition company , today announced that the registration statement on Form F-4 (the “Registration Statement”), in connection with HSPT’s previously announced proposed business combination (the “Business Combination”) with SL Bio, has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on January 13, 2026.

The declaration of effectiveness by the SEC and the filing of the definitive proxy statement is an important step towards SL Bio becoming a publicly traded company. Upon closing of the Business Combination and related transactions (the "Proposed Transactions"), SL Science Holding Limited, a newly formed Cayman Islands exempted company and the post-business combination holding company ("PubCo" or “Combined Company”), is expected to be listed on The Nasdaq Stock Market LLC ("Nasdaq") under the ticker symbol "SLBT."

HSPT will hold an extraordinary general meeting of shareholders at 9:00 a.m. Eastern time on February 3, 2026 to approve the Proposed Transactions. The accompanying proxy statement/prospectus dated January 13, 2026 was first being mailed to shareholders on or about January 13, 2026.

The closing of the Proposed Transactions will be subject to listing approvals by Nasdaq, approval by the shareholders of HSPT, and satisfaction or waiver, as applicable, of other customary closing conditions.

About SL BIO Ltd.

SL Bio is a biomedical company specializing in developing innovative cellular and gene therapies. Established with a commitment to advancing regenerative medicine and cancer treatment, SL Bio hopes to utilize immune stem cells to target cancer and bovine-derived milk exosomes to regenerate damaged tissues, thus potentially offering expansive medical applications for its products. With proprietary technologies such as Armed-T and Gamma Delta T cells, as well as exosome applications in skincare and cancer recovery, SL Bio aims to create cellular therapies that we believe have the potential to revolutionize the cell therapy and immuno-oncology sector within the broader biopharmaceutical industry.

About Horizon Space Acquisition II Corp.

Horizon Space Acquisition II Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities.

No Offer or Solicitation

This press release is for informational purposes only and is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or to buy any securities or a solicitation of any proxy, consent, vote or approval with respect to any securities in respect of the Proposed Transactions and is not a substitute for the proxy statement/prospectus or any other document that HSPT, SL Bio or PubCo may file with the SEC or send to HSPT's, SL Bio's or PubCo’s shareholders in connection with the Proposed Transactions. No offer, sale, issuance or transfer of securities shall be made in any jurisdiction in which such offer, sale, issuance or transfer would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, among other things, statements regarding the anticipated benefits and impact of the Proposed Transactions on the Combined Company's business and future financial and operating results, the anticipated timing of closing of the Proposed Transactions, the anticipated growth of the industries and markets in which SL Bio competes, the success and customer acceptance of SL Bio's product offerings and other aspects of SL Bio's operations, plans, objectives, opportunities, expectations or operating results, the expected ownership structure of the Combined Company and the likelihood and ability of the parties to successfully consummate the Proposed Transactions. Words such as "may," "should," "will," "believe," "expect," "anticipate," "intend," "estimated," "target," "project," and similar phrases or words of similar meaning that denote future expectations or intent regarding the Combined Company's financial results, operations and other matters are intended to identify forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Such forward-looking statements are based upon the current beliefs and expectations of management of HSPT and SL Bio and are inherently subject to significant business, economic and competitive risks, uncertainties and other factors, both known and unknown, which are difficult to predict and generally beyond the control of HSPT and SL Bio and that may cause actual results and the timing of future events to differ materially from the results and timing of future events anticipated by the forward-looking statements in this press release, including but not limited to: (i) the ability of the parties to complete the Proposed Transactions within the time frame anticipated or at all, which may adversely impact the price of HSPT's securities; (ii) the failure to realize the anticipated benefits of the Proposed Transactions or those benefits taking longer than anticipated to be realized; (iii) the risk that the Proposed Transactions may not be completed by HSPT's business combination deadline and the potential failure to obtain further extensions of the business combination deadline if sought by HSPT; (iv) the failure to satisfy the conditions to the consummation of the Proposed Transactions, including the approval of the Proposed Transactions by the shareholders of HSPT, the receipt of any required governmental or regulatory approvals or the failure to meet the Nasdaq listing standards in connection with the closing of the Proposed Transactions; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Business Combination Agreement; (vi) the effect of the announcement or pendency of the Proposed Transactions on SL Bio's business relationships, performance and business generally; (vii) risks that the Proposed Transactions disrupt current plans and operations of SL Bio and any potential difficulties in SL Bio employee retention as a result of the Proposed Transactions; (viii) the outcome of any legal proceedings that may be instituted against SL Bio or HSPT related to the Business Combination Agreement or the Proposed Transactions or any product liability or regulatory lawsuits or proceedings relating to SL Bio's products; (ix) the ability to maintain the listing of the PubCo’s ordinary shares (“PubCo Ordinary Shares”) on Nasdaq after the closing of the Proposed Transactions; (x) potential volatility in the price of PubCo Ordinary Shares due to a variety of factors, including changes in the competitive and highly regulated industries in which SL Bio operates, variations in performance across competitors, changes in laws and regulations affecting SL Bio's business, and changes in the Combined Company's capital structure; (xi) the ability to implement business plans, identify and realize additional opportunities and achieve forecasts and other expectations after the completion of the Proposed Transactions; (xii) the risk of downturns and the possibility of rapid change in the highly competitive industries in which SL Bio operates or the markets that SL Bio targets; (xiii) the inability of SL Bio and its current and future collaborators to successfully develop and commercialize SL Bio's products in the expected time frame or at all; (xiv) the risk that the Combined Company may never achieve or sustain profitability or may need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; and (xv) the costs of the Proposed Transactions. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties and factors, including those described in the Registration Statement, and HSPT's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other documents filed or to be filed with the SEC by HSPT from time to time. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond the control of HSPT or SL Bio. The forward-looking statements included in this press release are made only as of the date hereof, and HSPT and SL Bio disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date hereof. Forecasts and estimates regarding SL Bio's industry and end markets are based on sources HSPT and SL Bio believe to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Annualized, pro forma, projected and estimated numbers are used for illustrative purposes only, are not forecasts and may not reflect actual results.

Contact Information:
Horizon Space Acquisition II Corp. Contact:
Mingyu (Michael) Li
Chief Executive Officer
Tel: (646) 257-5537
Email: mlee@horizonspace.cc

SL BIO Ltd. Contact:
William Wang 
Chief Executive Officer
Tel: +886-3-5163636
Email: ww@sl-bio.com