LAEKNA-B(02105) has signed an exclusive license agreement with VASQUE BIO for regions outside of China.

LAEKNA-B (02105) announced that on June 9, 2026, the Group signed an exclusive license agreement with Vasque Bio, Inc. (Vasque Bio). According to the terms and conditions of the license agreement, the Group granted Vasque Bio an exclusive license for a global (excluding mainland China, Hong Kong, Macau, and Taiwan) territory to develop, manufacture, commercialize, and otherwise exploit LAE118 (a novel PI3K broad-spectrum mutation-selective inhibitor developed by the Group) and enjoy related rights. In return, the Group is entitled to receive a non-refundable and non-deductible upfront cash payment of $10 million, as well as the right to receive a stake of up to a high double-digit percentage of Vasque Bio's issued common shares without additional consideration or receive cash payment in place of such common shares. Under the license agreement, the Group is also entitled to receive up to a total of $517 million in development and sales milestone payments and single to double-digit percentage tiered sales royalties based on future net sales of LAE118 in the licensed territory. If Vasque Bio enters into a qualified strategic partnership or acquisition transaction related to the use of LAE118 under specific conditions, the Group will be entitled to additional payments, up to 50% of the value of that strategic transaction. The Board believes that the signing of the license agreement is in the overall best interest of the Company and its shareholders. Vasque Bio focuses mainly on the development of therapies for rare diseases, while the Group focuses on developing LAE118's oncology therapy outside the licensed territory. The Group can accelerate the global development and commercialization of LAE118 for broader indications in the licensed territory through this opportunity, and accelerate downstream value creation (such as licenses, partnerships, or acquisitions). The upfront and milestone payments will strengthen the Group's financial position to support our future growth. The right to receive Vasque Bio's issued common shares also allows the Group to retain the future appreciation potential of LAE118. Currently, the Group is actively discussing with multiple potential partners and seeking strategic partnerships to accelerate the clinical development and commercialization of various drug candidates, maintain a robust financial position, and enable us to make choices when evaluating potential collaboration structures to coordinate the interests of all parties and maximize the potential of the Group's assets.