Sunshine Novo (688621.SH) signed the ABA001 Project Cooperative Development Agreement

Zhitong Finance App News, Sunshine Nuohe (688621.SH) announced that the company and Jiangsu Wangao Pharmaceutical Co., Ltd. (“Wangao Pharmaceutical”) recently reached a cooperation agreement on the joint development of the ABA001 project and signed the corresponding “ABA001 Project Cooperation and Development Agreement”. According to the “ABA001 Project Cooperation and Development Agreement”, Wangao Pharmaceutical will invest 50 million yuan in the current phase. The entire amount will only be used for clinical trials, R&D optimization, registration reporting, compliance operation and maintenance of the agreed products and directly related expenses of the project, and cannot be misused for other purposes.

The purpose of this transaction is to give full play to the advantages of both parties, accelerate clinical development, registration and commercialization of ABA001, and provide more treatment options for clinical needs. If the project is successfully carried out and agreed milestones are reached, the company will receive milestone payments and potential equity shares, etc., which will enhance the company's future profitability and is expected to have a positive impact on the company's current and future business performance.