Huahai Pharmaceutical: Subsidiary Granted Approval for Clinical Trial of New Drug.

Huahai Pharmaceutical announced that its subsidiary Shanghai Huao Tai Biological Pharmaceutical Co., Ltd. has received approval from the U.S. Food and Drug Administration to conduct Phase I clinical trials of injection HB0043 in the United States. HB0043 is a recombinant humanized IgG1 bispecific antibody that targets both human interleukin-17A and human interleukin-36 receptor, with high binding and blocking activity, developed for the treatment of various difficult-to-treat autoimmune diseases. Huahai Pharmaceutical has invested a total of approximately 71.11 million yuan in research and development expenses for this project.