The Chiliz Group's Strategic Investment in Processa Pharmaceuticals

The Chiliz Group, formerly known as HX Entertainment, has filed a Schedule 13D/A amendment to disclose its strategic investment in Processa Pharmaceuticals, Inc. The Chiliz Group, controlled by Alexandre Dreyfus, acquired 5,467,181 shares of Processa's Common Stock, representing approximately 10.9% of the outstanding shares. The investment, totaling approximately $1,243,784, was made for strategic purposes, aligning with The Chiliz Group's interest in innovative financial strategies, particularly in the biotech-fintech convergence sector. The Chiliz Group may engage in discussions with Processa's management, propose changes to the company's strategy, or seek board representation. The shares were acquired through a Securities Purchase Agreement dated August 4, 2025.