Strategic Collaboration for Mutual Growth: Lingyi Biotech and Zoli Pharmaceutical Sign Framework Agreement

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Recently, Lingyi Biotech Co., Ltd. ("Lingyi Biotech") and Zhejiang Jolly Pharmaceutical Co., Ltd. ("Jolly Pharmaceutical") solemnly signed the "Strategic Cooperation Framework Agreement" at the headquarters of Jolly Pharmaceutical. Dr. Lin Qing, founder and CEO of Lingyi Biotech, and Mr. Yu Youqiang, Chairman of Jolly Pharmaceutical, jointly signed this milestone "Strategic Cooperation Framework Agreement" as representatives of both parties.

We are very pleased to hold the strategic cooperation signing ceremony between Zhejiang Jolly Pharmaceutical Co., Ltd. and Lingyi Biotech here, which is a significant milestone in the development of both parties. During exchanges with the Lingyi Biotech team, Jolly Pharmaceutical deeply appreciated the pragmatism, professionalism, and dedication of the Lingyi Biotech team. We hope that through this strategic cooperation, Jolly Pharmaceutical can fully leverage its advantages as a publicly listed company in terms of capital, drug research and development, registration applications, commercialization, and more. Meanwhile, Lingyi Biotech can also utilize its strengths in drug discovery, optimization screening, pharmacology, and efficacy. Both parties will collaborate in various aspects such as equity, R&D, sales, and products to form a synergy and achieve mutual benefits and win-win outcomes.

We are very grateful to Chairman Yu Youqiang and Zhejiang Jolly Pharmaceutical Co., Ltd. for their recognition and trust in Lingyi Biotech, giving us the opportunity to strategically cooperate with such a well-known pharmaceutical listed company in China. Zhejiang Jolly Pharmaceutical Co., Ltd. is a rare biopharmaceutical company in the traditional Chinese medicine industry that possesses an innovative gene. Based on modern biotechnology and guided by contemporary traditional Chinese medicine theory, the company continuously innovates, creating two series of products: Wuling and Bailing. In 2016, Jolly strategically invested in CARsgen Therapeutics, a company in the CAR-T field, beginning its layout in precision medicine. CARsgen Therapeutics has now successfully gone public, fully demonstrating Jolly's forward-thinking vision and decision-making capabilities. Following its investment in CARsgen’s cell therapy, Jolly further expanded its presence in the advanced therapies sector, showcasing its strategic foresight. Lingyi Biotech will further intensify the development efforts of its R&D pipeline, using excellent clinical data and milestone achievements to reward investors.