Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-08-01 23:11Core Viewpoint - The company has signed a cooperation and research agreement with China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. for the development, registration, production, and commercialization of BGM0504 injection in mainland China, excluding Hong Kong, Macau, and Taiwan [1][2]. Group 1: Agreement Details - The agreement grants China Resources Sanjiu exclusive rights for cooperative development and commercialization of BGM0504 injection, which is a dual agonist of GLP-1 and GIP, currently in the research phase [1][3]. - The agreement has passed internal approval processes and does not require further board or shareholder review [1]. - The milestone payments outlined in the agreement are contingent upon certain conditions, and the total amount remains uncertain [2][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]. - The product has achieved expected goals in phase II clinical trials for weight loss and type 2 diabetes treatment, with phase III trials currently ongoing [3]. Group 3: Financial Terms - The total maximum milestone payment for research and development from China Resources Sanjiu is set at 282 million RMB [10]. - The company will receive service fees based on net sales from the commercialization of the product, with different settlement methods depending on the sales model [11]. - Additional sales milestone payments will be based on the results of new clinical trials, with a cap of 28.5 million RMB for each trial [12]. Group 4: Impact on the Company - The agreement is expected to accelerate the commercialization process of BGM0504 injection in China, leveraging China Resources Sanjiu's established sales channels and market experience [16]. - The cooperation is anticipated to positively impact the company's future operating performance once the product is launched, although it will not affect current performance [2][16].