24% stake in anti-pulmonary fibrosis innovative therapy JK1033 secured by leading pharmaceutical company

September 12, QingdaoBaiyang PharmaceuticalCo., Ltd. (hereinafter referred to as "Baiyang Medicine") announced that the company has signed a strategic cooperation agreement with Tianjin Jikun Medicine Technology Co., Ltd. (hereinafter referred to as "Jikun Medicine"). Baiyang Medicine strategically invests in Jikun Medicine and plans to hold 24% of its equity, thereby securing all rights to Jikun Medicine's Class 1 innovative drug for treating pulmonary fibrosis. Meanwhile, Baiyang Medicine enjoys the right of first refusal under the same conditions for the global compound rights of all products held by Jikun Medicine.

Class I innovative drug project JK1033 is a small molecule compound that treats idiopathic pulmonary fibrosis (IPF) through a novel mechanism of action. It can inhibit multiple target cells/target pathways related to pulmonary fibrosis, achieving anti-fibrotic, anti-inflammatory, and anti-epithelial injury effects, effectively suppressing disease progression. Currently, the project has initiated Phase I clinical trials in China and has completed Pre-IND communication with the U.S. FDA. The IND application can be submitted according to the schedule.

Currently, Jikun Pharmaceutical has a mature platform for screening and evaluating anti-fibrotic drugs, as well as R&D platforms for anti-inflammatory and immunomodulatory drugs and cancer drugs. It has established a complete R&D system from target discovery to clinical development. So far, it has laid out 7 Class I new drug pipelines targeting the global market, advancing in stages to ensure continuous output.

According to the cooperation agreement, after the JK1033 project reaches a certain progress, Baiyang Pharmaceutical has the right to acquire the "JK1033 Project Rights" at a reasonable and mutually agreed price. If it chooses to exercise this option, it will not only further enrich the company’s product pipeline in the innovative drug field, but also establish a strong product portfolio advantage in the two major therapeutic areas of liver fibrosis and pulmonary fibrosis, further consolidating Baiyang's position in the field of fibrotic disease treatment.