Zhitong Finance App News, Rongchang Biotech (688331.SH) issued an announcement. On November 9, 2026 (after the transaction period), the company signed a “license agreement” with Rongchang Pharmaceutical. Rongchang Pharmaceutical granted the company and its affiliates a global, exclusive, irrevocable license, including licensing fees, for pan-RAS (ON) small molecule inhibitors and any and all products as active pharmaceutical ingredients. The company and its related parties have the right to conduct research, development, registration, production (including commissioned production), commercialization and any other use of licensed compounds and licensed products within the licensed area and licensed field. The company will pay Rongchang Pharmaceutical a one-time and non-refundable down payment of RMB 50 million, a milestone payment of up to RMB 4.87 billion (including development-related payments totaling up to RMB 994 million and sales-related payments totaling up to RMB 3.876 billion), and a royalty fee of 3% to 7% of the annual net sales of the licensed product.

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