Securities code: 002675 securities abbreviation: Yantai Dongcheng Biochemicals Co.Ltd(002675) Announcement No.: 2022-003 Yantai Dongcheng Biochemicals Co.Ltd(002675)
Announcement on the signing of letter of intent between the wholly-owned subsidiary and imagenab, Inc
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete
False records, misleading statements or material omissions.
Special tips:
1. The signing of this letter of intent only represents the cooperation intention of both parties and the framework agreement on the premise of cooperation. There is a possibility of change in the implementation and implementation process. Investors are invited to pay attention to investment risks;
2. This agreement is a cooperation intention agreement signed between the company and imaginab, Inc. the specific implementation shall be subject to the formal contract signed in the future. If any specific transaction object and amount are involved in the specific implementation, if relevant contents need to be submitted to the board of directors or the general meeting of shareholders for deliberation, they shall be submitted to the board of directors or the general meeting of shareholders for deliberation, and according to the progress of cooperation matters, Timely perform the obligation of information disclosure;
3. This agreement is only a cooperation intention agreement, and the formal cooperation agreement has not been signed, so it is impossible to predict the impact on the company’s operating performance in the current year.
Recently, Yantai Dongcheng Biochemicals Co.Ltd(002675) (hereinafter referred to as “listed company” or “company”), a wholly-owned subsidiary of Nanjing Jiangyuan Andico positron research and Development Co., Ltd. (hereinafter referred to as “Andico”) and imagenab, Inc. (hereinafter referred to as “imagenab”) signed a non binding letter of intent on cooperation and reached a preliminary intention of cooperation.
According to relevant regulations, this matter does not constitute a related party transaction and does not constitute a major asset reorganization specified in the administrative measures for major asset reorganization of listed companies.
1、 Basic information of partners
(I) basic information
Company name: imagenab, Inc
Registration time: 2007
Company location: Los Angeles, USA
Main business: cancer immunotherapy, image diagnosis
Imagenab is a pioneering biotechnology company focused on developing the next generation of immunooncology imaging agents and radiopharmaceutical therapy (or RPT). Its main product “zirconium Zr 89 crefmirlimabberdoxam” is a PET tracer with CD8 T cells as the target and labeled with micro antibodies, which can realize noninvasive imaging of CD8 T cells in the whole body. At present, it is in phase II of clinical practice. Multinational pharmaceutical companies such as Pfizer, Bayer, Merck, Roche and AstraZeneca have cooperated with them on PET imaging in immunotherapy clinical trials. Imagenab has no relationship with the listed company, the controlling shareholders, directors, supervisors and senior managers of the listed company.
2、 Main contents of the agreement
(I) main contents
As an exclusive distributor, Andico will obtain the rights and relevant data specified under the patent right of imagenab, and then carry out the development, registration, manufacturing and sales of the agreement licensed product “zirconium Zr 89 crefmirlimab berdoxam” (hereinafter referred to as “target product”) in China.
(II) payment arrangement
1. Adico will make an advance payment to imagenab after signing the final License Agreement and pay subsequent related fees when the milestone is reached;
2. Royalties will be paid quarterly based on net sales for each quarter.
3、 Impact of this transaction on Listed Companies
The target product can realize the visualization of immune cells in patients by imaging CD8 T cells, so as to monitor the immune response in treated patients, so as to quickly judge the efficacy of cancer immunotherapy. By introducing target products, the company has entered the field of immunotherapy and expanded its business field. The company can not only benefit the majority of patients with clinical needs after the target product new drugs are listed, but also carry out a series of clinical studies before listing to help achieve accurate screening and evaluation in the process of immunotherapy.
The introduction of target products is conducive to the company to improve the product line of radiopharmaceutical platform, broaden revenue and profit sources, enhance the core competitiveness of the company’s products, and comply with the company’s nuclear medicine industry layout and development strategy. It is hereby announced.
Yantai Dongcheng Biochemicals Co.Ltd(002675) board of directors January 11, 2022
