Core Insights - Oceanpine Capital is acquiring an 80% equity stake in Beijing Jacoray Pharmaceutical Technology for a total consideration of 200 million yuan ($28 million) [1] - The deal includes an upfront payment of 125 million yuan, with an additional 75 million yuan as a milestone payment [1] - The acquisition aligns with Jacobio Pharma's focus on advancing oncology therapies, particularly in the cardiovascular research program [2] Company and Industry Summary - Upon completion of the acquisition, Oceanpine Capital will hold an 80% stake in Jacoray, while the industry partner and Beijing Jacobio will each own 10% [2] - Jacoray is designated as the project company for Jacobio's early-stage cardiovascular research program [2] - The transaction aims to implement a risk-sharing model, optimize capital allocation, and enhance operational efficiency to maintain long-term project value [3] - Proceeds from the transaction will primarily be allocated to research and development, production, and commercialization of Jacobio's Pan-KRAS inhibitor and other oncology assets [3] - Oceanpine Capital's CEO highlighted Jacobio's scientific strength and strategic focus in oncology innovation, indicating a commitment to advancing China's biotech innovation globally [4] - Jacobio's chairman emphasized that the partnership strengthens their strategic focus on oncology innovation and commitment to next-generation cancer therapies [4] - Jacobio Pharma's KRAS G12C inhibitor, glecirasib, received orphan drug designation from the European Medicines Agency in October 2024 [4]