Core Insights - Baiyang Pharmaceutical has signed a cooperation agreement with Peking University International Hospital to jointly build and operate a radiosurgery treatment center for a period of 8 years [2] - The collaboration involves the ZAP-X radiosurgery robot, which was authorized from ZAP Medical and has been approved for use in China since June 2023 [2][3] - The ZAP-X device is designed for treating intracranial and head and neck tumors, offering advantages such as reduced construction costs for radiation shielding facilities and improved accessibility to radiosurgery technology [3] Company Developments - The ZAP-X device is expected to treat approximately 200 patients annually, targeting three main patient groups: those with brain metastases, primary brain tumors, and benign brain tumors [3][4] - The device is set to be operational by mid-December 2023, with plans to expand its reach to countries along the "Belt and Road" initiative [4] - Baiyang Pharmaceutical's high-end manufacturing base in Beijing is expected to be operational by the end of 2025, aiming to become the global production and supply center for ZAP-X [4] Industry Context - Baiyang Pharmaceutical is the exclusive distributor of ZAP-X in mainland China, Hong Kong, and Macau, and holds over 19% equity in ZAP Medical [5][6] - The company is expanding its presence in the radiation therapy sector, with ongoing developments in various treatment technologies, including a 4π intelligent robotic radiation therapy system currently in clinical trials [6] - Despite the company's advancements, the radiation therapy penetration rate in China remains low, with only 20% to 30% of cancer patients opting for radiation therapy compared to 70% in the United States [6]