摆脱生长激素收入依赖，长春高新加入对外授权交易热潮

Core Viewpoint - Changchun High-tech is shifting away from its reliance on growth hormone revenue by engaging in external licensing agreements, marking a significant strategic move in its business model [1] Group 1: Licensing Agreement - Changchun High-tech's subsidiary, Shanghai Saizeng Medical Technology Co., Ltd., has signed an exclusive licensing agreement with Yarrow Bioscience, Inc. for the development and commercialization of the humanized TSH receptor antagonist monoclonal antibody GenSci098 (YB-101) outside of Greater China [1] - The agreement includes an upfront payment of $120 million, consisting of a non-refundable and non-deductible payment of $70 million and an additional $50 million for recent development milestones [1] - Saizeng Medical is eligible for up to $1.365 billion in milestone payments related to specific research, regulatory, and commercialization achievements, along with a sales commission exceeding 10% of net sales after product launch [1] Group 2: Clinical Trials - GenSci098 has received approval for clinical trials for thyroid eye disease in both China and the United States, set to commence in August 2024 [2] - The clinical trial application for treating Graves' disease has also been approved by the Chinese regulatory authority in October 2025 [2]