Tongyuankang Pharmaceutical announced that the company reached a license and cooperation agreement as well as supply and commercialization agreements with Qilu or its designated related parties to cooperate in the development, production and commercialization of cooperative APIs in China. Under the license and cooperation agreement, the company will collect a total down payment of approximately RMB 700 million, including the proceeds under the subscription agreement of approximately RMB 400 million, as well as potential milestone payments. In addition, the company also signed a supply and commercialization agreement with Qilu for a period of three years and is renewable.

Tongyuankang Pharmaceutical announced that the company reached a license and cooperation agreement as well as supply and commercialization agreements with Qilu or its designated related parties to cooperate in the development, production and commercialization of cooperative APIs in China. Under the license and cooperation agreement, the company will collect a total down payment of approximately RMB 700 million, including the proceeds under the subscription agreement of approximately RMB 400 million, as well as potential milestone payments. In addition, the company also signed a supply and commercialization agreement with Qilu for a period of three years and is renewable.