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Baili Tianheng (688506.SH): Global strategic cooperation agreement triggers second US$250 million milestone payment terms

Zhitongcaijing·09/21/2026 11:25:04
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Zhitong Finance App News, Baili Tianheng (688506.SH) issued an announcement. Previously, the company's wholly-owned subsidiary SysTimMune, Inc. (“SysTimMune”) and Bristol-Myers Squibb (“BMS”, NYSE code: BMY) reached an exclusive license and cooperation agreement for the Yizekang® (Renkang elontuzam, BL-B01D1/iza-Bren) project. The global phase III key registered clinical trial izabright-lung02 (Renkang ilontuzumab, BL-B01D1/iza-Bren) has reached a milestone, officially triggering the second US$250 million recent or contingent payment terms under the cooperation agreement. SysTimMune will receive payment in the near future (the actual payment amount is subject to deduction of bank charges).

Under the partnership agreement, the company will also be eligible for additional payments of up to $7.1 billion after reaching specific development, registration, and sales milestones. The milestone payment agreed in the cooperation agreement must meet certain conditions, and there is still uncertainty about the final milestone payment.