First things first: Cooperating with Pfizer China to accelerate the commercialization process of targeted GLP-1.

On February 24th, Xianweida Biotechnology and Pfizer China announced that they have reached a commercial strategic cooperation agreement on the new generation of selective GLP-1 receptor agonist egaglutide injection. According to the agreement, Pfizer will obtain the exclusive commercial rights of the product in mainland China, taking the first step in its global metabolic area strategic layout in China. At the same time, Xianweida Biotechnology will be the product's drug approval holder and responsible for the research and development, registration, production, and supply of the licensed product. Xianweida Biotechnology will have the right to receive a total payment from Pfizer of up to USD 495 million, including upfront payment, registration and sales milestone payments.