Zhi Tong Cai Jing·2025-08-12 01:28Core Viewpoint - Fosun Pharma's stock opened over 7% higher, reflecting positive market sentiment following the licensing agreement with Expedition Therapeutics for the development of DPP-1 inhibitor XH-S004 outside of China and Hong Kong [1] Group 1: Licensing Agreement Details - Fosun Pharma's subsidiary, Shanghai Fosun Pharmaceutical Industry Development Co., Ltd., signed a licensing agreement with Expedition Therapeutics for the global development, production, and commercialization rights of DPP-1 inhibitor XH-S004, excluding China and Hong Kong [1] - Under the agreement, Expedition will pay up to $120 million in non-refundable upfront payments and milestone payments based on development progress, with potential sales milestone payments of up to $525 million based on annual net sales in the licensed regions [1] Group 2: Clinical Trial Status - XH-S004 is currently in Phase II clinical trials for the treatment of non-cystic fibrosis bronchiectasis in China and in Phase Ib clinical trials for chronic obstructive pulmonary disease (COPD) [1]