Shanghai Fosun Pharmaceutical (600196.SH) Signs Cooperation and Option Agreement with Clavis Bio.

Shanghai Fosun Pharmaceutical (600196.SH) announced on December 18, 2025 that its controlling subsidiary, Shanghai Fosun Pharmaceutical Industry, signed a "Collaboration and Option Agreement" with the partner Clavis Bio. According to the agreement, during the designated collaboration period, Shanghai Fosun Pharmaceutical Industry and Clavis Bio will jointly select targets (based on nominations from Clavis Bio) and advance preclinical development of compounds targeting the selected targets (i.e. collaboration projects). Clavis Bio has the exclusive option to develop, produce, and commercialize the collaboration projects globally outside of China, Hong Kong, and Macau. Regardless of whether the partner exercises the option, the Group has the exclusive rights to develop, produce, and commercialize the collaboration projects in China, Hong Kong, and Macau. If Clavis Bio exercises the option for a specific collaboration project in this partnership, the Group could receive up to USD 362.5 million in payments (including non-refundable exercise fees, development and registration milestone payments, and sales milestone payments), and could also receive a specified percentage of royalties on net sales in the licensed territories related to the collaboration project. Additionally, the Group will receive a minority equity stake in a new project company established by Aditum Bio Fund 3, the controlling shareholder of Clavis Bio, for the specific collaboration project at no cost. This partnership aims to leverage the research and development strengths of both parties, further enrich the Group's high-value product pipeline, and accelerate the global clinical development and commercialization of the pipeline through potential external licensing in the future, continuously expanding the overseas presence of the Group's innovative products.