Hinova Pharmaceuticals (688302.SH) Signs Exclusive Licensing Agreement to Advance Overseas Market Development of HP570

Zhitong Finance APP News, Hinova Pharmaceuticals (688302.SH) announced that on November 4, 2026, the company signed an Exclusive License Agreement with Evommune, Inc. (hereinafter referred to as "Evommune") and its wholly-owned subsidiary Evommune MGD, LLC (hereinafter referred to as "Evommune MGD"), granting Evommune MGD a paid license to the company's proprietary VAV1 molecular glue degrader HP570 (hereinafter referred to as "HP570"). Evommune MGD will obtain exclusive rights to develop, manufacture, and commercialize HP570 worldwide excluding Greater China (including Mainland China, the Hong Kong Special Administrative Region, the Macao Special Administrative Region, and the Taiwan region) (hereinafter referred to as the "Licensed Territory"). As part of the consideration for the out-licensing transaction, the company and its wholly-owned subsidiary Hinova Pharmaceuticals (HK) Limited (hereinafter referred to as "Hinova Hong Kong") will receive an aggregate upfront payment of US$30 million, which is non-refundable and non-creditable, including US$20 million in cash and warrants issued by Evommune valued at US$10 million; in addition, the company is entitled to receive potential development, regulatory, and commercialization milestone payments of up to US$1.07 billion in aggregate, as well as tiered royalties on net sales of products in the Licensed Territory.