ALPHAMAB-B (09966) has entered into a licensing agreement with PATHOS AI regarding JSKN016.

ALPHAMAB-B (09966) announced that on August 3, 2026, its wholly-owned subsidiary Jiangsu Kangelijrey Biopharmaceutical Co., Ltd. (Jiangsu Kangelijrey) entered into a licensing agreement (the License Agreement) with Pathos AI, Inc. (Pathos AI) for JSKN016. Jiangsu Kangelijrey granted Pathos AI an exclusive license to research, develop, manufacture, and commercialize JSKN016 in regions outside of mainland China, Hong Kong, Macau, and Taiwan (the Licensed Territory). Under the License Agreement, Jiangsu Kangelijrey is entitled to receive a non-refundable upfront payment of $125 million from Pathos AI, as well as additional milestone payments totaling up to $2.093 billion, the amount of which depends on the achievement of certain development and commercialization milestones; and tiered royalties calculated as a high single-digit to low double-digit percentage based on annual net sales in the Licensed Territory. Jiangsu Kangelijrey retains all exclusive rights to develop, manufacture, and commercialize JSKN016 in mainland China, Hong Kong, Macau, and Taiwan. Pathos AI will bear its own costs and expenses for the development and commercialization of the licensed product in the Licensed Territory. As part of the overall transaction, Pathos AI granted the Group a warrant (the Warrant), allowing the Group the right to subscribe for preferred stock shares of Pathos AI at an applicable issue price per share, with a total subscription price of $62.5 million (which may be adjusted according to the terms of the overall transaction). The Group has full discretion over whether to exercise the Warrant. Should the Group choose to exercise the Warrant, the relevant investment arrangements and documents will be signed and disclosed separately. The Company believes that this collaboration will enable the Group to leverage Pathos AI's capabilities in precision medicine, AI-driven drug development, and oncology clinical development to advance the global development and commercialization of JSKN016, while retaining the Group's exclusive rights in mainland China, Hong Kong, Macau, and Taiwan. The upfront payment, milestone payments, and royalties provide the Group with opportunities to realize the value of JSKN016 as its overseas development and commercialization progress. The Board considers that the License Agreement and the granting of the Warrant were entered into on normal commercial terms, are fair and reasonable, and are in the overall interests of the Company and its shareholders.