Asia Pacific Pharmaceutical announced that Shengyaoguang Research, a wholly-owned subsidiary of the company, and Quzhou Fudan Research Institute signed a letter of intent to cooperate in the innovative drug technology transaction to introduce the technical results of the Class 1.1 small-molecule innovative drug “a BODIPY photosensitizer for acne treatment”. The transaction price includes a sales share of 25 million yuan for R&D and approval milestones, a cumulative sales share of not more than 40 million yuan for commercialization milestones, and 2% of the annual net sales after product launch, with a maximum cumulative total of no more than 100 million yuan. Due diligence and decision-making procedures have yet to be completed in this cooperation, and there is uncertainty.

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