Chongqing Genrix Biopharmaceutical Co.,Ltd. (688443.SH) has announced the signing of a licensing agreement on May 28, 2026, with Chongqing Pharma & Health Co., Ltd., a holding company of Shanghai Fosun Pharmaceutical (Group) Co., Ltd., for the GR1803 project. GR1803 injection, the licensed product, is a bispecific antibody designed to simultaneously bind to BCMA and CD3 antigens, thereby directing cytotoxic T cells to BCMA-expressing cells. Under the agreement, Pharma & Health will obtain the rights to develop, manufacture, and commercialize GR1803 injection within the licensed territory, encompassing mainland China, Hong Kong, Macau, and Taiwan, for the diagnosis, prevention, and treatment of human diseases. The total potential value of the deal, including upfront and milestone payments, could reach up to RMB 1.82 billion. This sum comprises an upfront payment of RMB 300 million, a marketing milestone payment of RMB 250 million, cumulative technology transfer milestone payments not exceeding RMB 50 million, and cumulative sales-based milestone payments not exceeding RMB 1.22 billion. Additionally, Chongqing Genrix Biopharmaceutical is eligible to receive sales royalties ranging from a high single-digit to low double-digit percentage of net sales, subject to adjustment mechanisms, based on the sales performance of GR1803 injection in the licensed region. The execution of this agreement is expected to accelerate the development, registration, and commercialization of GR1803 injection in the Chinese market. If progress proceeds smoothly, it is anticipated to have a positive impact on the company's future financial performance.