Pai Ao Tai: Agreement with STADA receives $2.5 million milestone payment.

Baotaie announced that in May 2024, the company signed an authorization, licensing, and commercialization agreement with STADA, granting the commercialization rights of BAT2506 injection in certain European countries to the other party. The total amount of upfront payment and milestone payments is up to 157.5 million US dollars, including 10 million US dollars upfront payment, up to 147.5 million US dollars milestone payment, and revenue sharing. Recently, the company received a milestone payment of 2.5 million US dollars from STADA, and the funds received will help support future research and internationalization strategies. As of the date of the announcement, the injection has been approved for listing in Europe and is awaiting review in China and other regions.