Zhitong Finance App News, Fu Hong Han Lin (02696) issued an announcement. On August 16, 2026, the company signed a cooperation framework agreement with Sandoz AG (Sandoz), and reached a product subsidiary agreement for the first batch of cooperative products and an option agreement on a potential cooperative product. With regard to the agreements already reached, the total invoice amount expected to be reached in 2026 will not exceed US$100.5 million, all subject to the terms and conditions agreed upon by both parties.
The cooperation framework agreement will cover up to 10 monoclonal antibody (mAb) and/or antibody conjugate drug (ADC) biosimilar products or ingredients agreed by the parties from time to time, and product subsidiary agreements will be concluded for each product from time to time to agree on specific cooperation details. Based on this, the company established a global strategic cooperation with Sandoz. The scope of cooperation covers CMC development, pre-clinical development, clinical development, regulatory reporting, production, listing, commercialization and life cycle management of cooperative products.
The company will be responsible for the development, production and supply of cooperative products, and grant Sandoz an exclusive license to register and commercialize cooperative products within the cooperative region and a co-exclusive license to develop and produce cooperative products within the cooperative region, unless otherwise agreed in each product subsidiary agreement; Sandoz will pay the company the down payment, milestone payment and/or sales share of each cooperative product as specified in the product subsidiary agreement. Sandoz will be responsible for obtaining and maintaining marketing approval (MA) for cooperative products within the cooperative region and commercialization of cooperative products within the cooperative region.
Sandoz will pay the company a non-refundable $8 million option fee for a potential collaboration with the hyaluronidase HLXTE-Haase1001 within the agreed time frame after the conclusion of the cooperation framework agreement. After the right of option is exercised, the two parties will reach a specific cooperation agreement. Sandoz will pay the company the agreed amount of development milestone payments, sales milestone payments, and graded sales incentives according to the agreement.
Sandoz AG was founded in 1979, dates back to 1886, and is headquartered in Basel, Switzerland. Sandoz is a wholly-owned subsidiary of Sandoz Group AG. Listed on the Swiss Stock Exchange (stock code: SDZ), Sandoz Group AG is mainly engaged in R&D, production and marketing of biosimilar drugs and generic drugs, and operates in more than 100 countries.
Previously, the company has established a good cooperative relationship with Sandoz regarding the commercialization of the ipimumab biosimilar HLx13 in various regions around the world. This cooperation aims to utilize the company's advantages in R&D and production, as well as Sandoz's leading global position and infrastructure in biosimilar commercialization to improve the accessibility of various high-quality biosimilar products for patients around the world. While deepening the overseas process of the company's products, we will further enhance the accessibility and influence of the company's products in the international market and provide more treatment options for patients in the region.