▲May 14-15Shanghai BiopharmaceuticalInnovators SummitScan to Register
Disclaimer: Due to limited proficiency, errors are inevitable, and some information may not be the most up-to-date. Comments are welcome to point out any issues. This article is only for the introduction of drugs related to healthcare.Non-therapeutic Program Recommendation (if applicable); This article does not constitute any investment advice.。
PharmaCircleMonitoringShowRecently, Huaota, a subsidiary of Huahai Pharmaceutical, signed a cooperation development and licensing agreement with ALM.The main contents of the agreement are as follows:1. Main Contents of the "Cooperative Development and Licensing Agreement"(1) Basic Information of the Parties Involved Party A:Almirall，S.A.Founded in 1944, headquartered in Barcelona, ALM is a global pharmaceutical company at the forefront of science, providing breakthrough and differentiated dermatological innovations to meet patient needs, with products sold in more than 100 countries. ALM is listed on the Spanish Stock Exchange (Stock Code: ALM).Total revenue target for 2025: 114.45 million euros, with more than 2,100 employees globally. ALM has established Almirall (Shanghai) Pharmaceutical Consulting Co., Ltd. in China, dedicated to creating complementary opportunities by combining the company's strong internal R&D capabilities with collaborations in China to accelerate innovation in the field of medical dermatology. Party B: Shanghai Huaota Biopharmaceutical Co., Ltd. Unified Social Credit Code: 91310115078133145H Establishment Date: 2013 Registered Address: 1st Floor, Building 2, No. 538 Cai Lun Road, China (Shanghai) Pilot Free Trade Zone Legal Representative: Chen Baohua Registered Capital: 320 million RMB Business Scope: Research and development of biopharmaceutical products, production of Adalimumab, Rituximab, Trastuzumab, Bevacizumab, as well as related technical consulting, technical services, technology transfer, sales of pharmaceutical intermediates (excluding drugs), and import and export of goods and technologies. [Projects that are required to be approved by relevant authorities can only be carried out after obtaining approval.](II) There is no related party transaction between the two parties in this transaction.(III) Time and Method of Agreement Signing This agreement was signed by Huaota, a subsidiary controlled by the company, and ALM on March 26, 2026.(IV) Deliberation and Decision-making Procedures for the Execution of Signed Agreements: According to the relevant regulations such as the "Listing Rules of the Shanghai Stock Exchange" and the "Articles of Association of the Company," this transaction has been approved by the second meeting of the Development Strategy Committee of the Ninth Board of Directors and the ninth interim meeting of the Ninth Board of Directors. This transaction falls within the review authority of the company's board of directors and does not need to be submitted to the shareholders' meeting for review.II. Main Content of the Agreement (1) License and Project Cooperation 1. Basic Information of the ProjectA monoclonal antibody candidate drug with a new target for multiple potential indications, including medical dermatology.2. Product License: According to the agreement, Huaota has the right to develop and commercialize the project and product in China after the completion of the proof-of-concept, and ALM has the global rights to develop and commercialize the project and product outside of China.(II) Contract Amount and Payment 1. Payment: According to this new drug BD agreement, Huaota is entitled to receive from ALM a total amount not exceeding $340 million as upfront payment, development milestone payments, and commercialization milestone payments. This specifically includes (the specific amounts involved in the following stages are considered trade secrets of both parties and will not be publicly disclosed this time):（1）Upfront Payment: After the contract takes effect, Huaota is entitled to receive a one-time upfront payment. （2）Development Milestone Payments: ① After HuaoTai achieves the agreed development and registration results, it is entitled to receive the corresponding development milestone payment from ALM as stipulated in the agreement.② After HuaoTai achieves the agreed proof-of-concept results, it is entitled to receive the corresponding development milestone payment from ALM as stipulated in the agreement.。 (3) Commercial milestone payment: After the annual net sales reach the agreed threshold, Huaota is entitled to receive the corresponding commercial milestone payment.2. Royalty Fees:During the term of the agreement, Huaota is entitled to receive tiered royalties based on the annual net sales of the合作产品 in the ALM region; ALM is entitled to receive tiered royalties from the annual net sales of the product in China. (III) Conditions for the Effectiveness of the Agreement: The agreement is made in multiple copies and becomes effective upon being signed by both parties, with each copy having equal legal force. III. Significant Risk Warnings and Impact on the Company: 1. This transaction does not constitute a related-party transaction or a major asset restructuring; 2. This transaction has been reviewed and approved at the second meeting of the Development Strategy Committee of the Ninth Board of Directors and the ninth interim meeting of the Ninth Board of Directors of the company, and does not need to be submitted to the shareholders' meeting for review. 3. The development of new drugs involves multiple stages, including preclinical research and clinical trials, and there are many uncertainties. Whether the candidate drug molecules can meet the agreed target product specifications and relevant standards, whether the jointly developed and licensed products can enter the clinical trial stage, whether they can complete relevant clinical trials, and whether they can obtain marketing approval all carry uncertainties. 4. The development milestone payments, commercialization milestone payments, and royalties stipulated in this transaction should be triggered by the thresholds and successful achievements agreed upon by both parties, so the actual receivable amounts are uncertain. Subsequent development milestone payments, commercialization milestone payments, and royalties shall be executed according to the thresholds agreed upon by both parties and based on the achievements and conditions set forth in the agreement. If the relevant payments can be received as scheduled in the future, they will have a positive impact on the company's future performance, with the specific impact amount subject to the audit data at that time. 5. This agreement may be terminated early due to circumstances specified in the agreement.References:
PharmCube Data;
Mox Entropy Pharma pharma.bcpmdata.com (formerly Pharma Data Cloud);
http://www.marketscreener.com；
https://www.businesswire.com；
www1.hkexnews.hk/；
; etc.
