Core Viewpoint - The company, CloudTop New Medicine (云顶新耀), has entered into an exclusive licensing agreement with Visara, Inc. for the development, production, and commercialization of VIS-101, a novel dual-function biopharmaceutical targeting VEGF-A and ANG-2, aimed at treating various eye conditions with improved efficacy compared to first-generation therapies [1] Financial Obligations - The company's payment obligations under the licensing agreement include: - An upfront payment of $7 million (approximately RMB 49.7 million) and reimbursement of up to RMB 24 million for out-of-pocket expenses [1] - Potential development and sales milestone payments of up to $89 million (approximately RMB 632 million) [1] - Potential royalties based on net sales [1] Strategic Collaboration - The strategic collaboration between the company and Visara is expected to provide highly differentiated and commercially attractive assets, enriching the company's late-stage product pipeline [1] - VIS-101 allows the company to expand into the competitive ophthalmology field, which has significant unmet medical needs [1]

Core Viewpoint - The company has entered into an exclusive licensing agreement with Visara, Inc. to develop, produce, and commercialize VIS-101, a novel dual-function biologic targeting VEGF-A and ANG-2, which is expected to provide more durable treatment benefits for patients with wet age-related macular degeneration, diabetic macular edema, and retinal vein occlusion [1] Financial Obligations - The company's payment obligations under the exclusive license include: - An upfront payment of $7 million (approximately RMB 49.7 million) and reimbursement of self-paid expenses up to RMB 24 million [1] - Potential development and sales milestone payments of up to $89 million (approximately RMB 632 million) [1] - Potential royalties based on net sales [1] Strategic Collaboration - The board believes that the strategic collaboration with Visara will provide the company with highly differentiated and commercially attractive assets, enriching the company's late-stage product pipeline [1] - VIS-101 allows the company to expand into the competitive ophthalmology field, which has significant unmet medical needs [1]