Haisco Pharmaceutical Group (002653.SZ) signed an authorization license agreement for the HSK39004 project with AirNexis.

Haisco Pharmaceutical Group (002653.SZ) announced that the company has signed an exclusive license agreement with American company AirNexis, granting AirNexis the exclusive rights to develop, manufacture, and commercialize HSK39004 globally outside of mainland China, Hong Kong, Macau, and Taiwan. AirNexis will pay Haisco Pharmaceutical Group an initial payment of $108 million (including $40 million in cash and approximately $68 million worth of AirNexis company shares representing 19.9% ownership), as well as up to $955 million in additional milestone payments and royalties. If AirNexis reaches further licensing agreements for HSK39004, Haisco Pharmaceutical Group will also be entitled to a share of the licensing revenue. The announcement indicated that HSK39004 is a dual inhibitor of PDE3/4, which works through a dual mechanism to dilate bronchi, reduce the release of inflammatory factors, and improve airflow limitation and airway inflammation, used as adjunctive maintenance therapy for chronic obstructive pulmonary disease (COPD). The drug currently has two dosage forms, inhalation suspension and inhalation powder, both of which are in Phase II clinical trials in China. Research and development investment in HSK39004 totaled approximately 70 million yuan as of December 31, 2025.