On September 24, Nuochengjianhua announced that Beijing Nuochengjianhua Pharmaceutical Technology Co., Ltd., a wholly-owned subsidiary of the company, and ElilillyandCompany signed a R&D cooperation and licensing agreement. The two sides will carry out strategic cooperation in the field of innovative drug research and development. The company will rely on a proprietary drug discovery platform and deep research experience to discover and develop up to 5 innovative target projects to address major unmet clinical needs. Eli Lilly will pay the company a down payment of up to $100 million and recent milestone payments. The total amount of potential R&D and commercialization milestone payments is approximately US$3.25 billion. Additionally, the Company is entitled to charge a single-digit percentage tiered royalty based on the annual net sales of the licensed product.

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