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Jingtai Technology: Signed a pipeline cooperation agreement with DoveTree with a total order scale of approximately HKD 47 billion.
Jin10 data reported on August 6, that on August 5, Crystal Technology (02228.HK) announced the completion of a pipeline cooperation agreement with DoveTree with a total order scale of approximately HKD 47 billion (USD 5.99 billion), and has received the first payment of approximately HKD 400 million (USD 51 million) as stipulated in the agreement. According to the terms of the agreement, Crystal Technology and DoveTree have reached cooperation on multiple innovative drug assets in the preclinical stage, both macromolecular and small molecular, and will conduct new drug research and development targeting a series of DoveTree designated targets. DoveTree exclusively enjoys the global exclusive development and commercialization rights of the related drugs. In return, in addition to the first payment, Crystal Technology is entitled to receive further payments of approximately HKD 385 million (USD 49 million), as well as potential milestone payments and sales sharing amounting to approximately HKD 46.2 billion (USD 5.89 billion). This cooperation sets a new record for order scale in the field of AI + Bots new drug development.