Haisco(SZ:002653) Zhong Guo Zheng Quan Bao·2026-01-10 04:34Core Viewpoint - The company has signed an exclusive licensing agreement with AirNexis Therapeutics, granting AirNexis global rights (excluding China) to develop, produce, and commercialize HSK39004, a drug for chronic obstructive pulmonary disease (COPD) [2][3] Group 1: Licensing Agreement Details - AirNexis will pay an upfront fee of $108 million, which includes $40 million in cash and approximately $68 million worth of 19.9% equity in AirNexis, along with potential milestone payments of up to $955 million and royalties [2][3] - The transaction is classified as a related party transaction and requires shareholder approval [2] Group 2: Drug Information - HSK39004 is a dual inhibitor of PDE3/4, designed to expand airways and reduce inflammation, currently undergoing Phase II clinical trials in China [3] - The drug is available in two formulations: inhalation suspension and inhalation powder [3] Group 3: Financial Performance - For the first three quarters of 2025, the company reported revenue of 3.3 billion yuan, a year-on-year increase of 19.95%, while net profit attributable to shareholders decreased by 22.66% to 295 million yuan [4] Group 4: Investment and Strategic Implications - The agreement aligns with the company's strategy of internationalization and innovation, aiming to enhance global development and commercialization of HSK39004 [3] - The NewCo model used for this licensing agreement allows the company to retain partial ownership and control while attracting investment for clinical development [6][8]