荣昌生物：与参天中国订立许可协议

Core Viewpoint - Rongchang Biopharma has entered into a licensing agreement with Santen China for the RC28-E injection, granting exclusive rights for development, production, and commercialization in Greater China and South Korea [1] Financial Terms - Rongchang Biopharma will receive a non-refundable and non-offsettable upfront payment of 250 million RMB from Santen China [1] - The agreement includes potential milestone payments of up to 520 million RMB for development and regulatory achievements, and up to 525 million RMB for sales milestones [1] - Additionally, Rongchang Biopharma will earn a tiered sales royalty ranging from high single-digit to double-digit percentages based on product sales within the licensing scope [1]