Shang Hai Zheng Quan Bao·2025-08-01 19:17Core Viewpoint - The announcement details a collaboration agreement between Borui Biopharmaceuticals (Suzhou) Co., Ltd. and China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. for the development and commercialization of BGM0504 injection in mainland China, excluding Hong Kong, Macau, and Taiwan [2][3]. Group 1: Agreement Details - Borui Biopharmaceuticals and its subsidiaries grant China Resources Sanjiu exclusive rights for the cooperative development and commercialization of BGM0504 injection, which is a dual agonist for GLP-1 and GIP receptors [2][9]. - The agreement has passed internal approval processes and does not require further board or shareholder approval [2]. - The milestone payments outlined in the agreement are contingent on certain conditions, and the total amount remains uncertain [3][10]. Group 2: Product Information - BGM0504 injection is an innovative drug that has shown potential for treating metabolic diseases, including type 2 diabetes and non-alcoholic fatty liver disease (NASH) [3][4]. - The product has achieved expected goals in phase II clinical trials, and the phase III trials are currently ongoing [4]. Group 3: Financial Terms - The total maximum milestone payment for the clinical trial expenses is set at 282 million RMB [10]. - Borui Biopharmaceuticals will receive service fees based on net sales from the commercialization of the product [11]. - Additional sales milestone payments are contingent upon the successful completion of new clinical trials [12]. Group 4: Impact on Company - The collaboration is expected to expedite the commercialization process of BGM0504 injection and leverage China Resources Sanjiu's established sales channels and market experience [16]. - While the agreement will not impact the company's current performance, it is anticipated to positively influence future operating results once the product is launched [3][16].