By Fineline Cube 
Zhejiang Hisun Pharmaceutical Co., Ltd. (SHA: 600267) announced today that it has signed an exclusive product‑licensing and strategic‑cooperation agreement with Shenzhen Ascentawits Pharmaceuticals Ltd. Under the deal, Hisun will introduce AST‑3424, a first‑in‑class small‑molecule prodrug, into Mainland China, Hong Kong SAR and Macao SAR.
Deal Highlights
| Element | Details |
|---|---|
| Up‑front & Milestone Payments | Up to RMB 240 million in total, paid to Ascentawits upon signing and as development milestones are achieved. |
| Sales Royalties | Annual royalties based on a specified percentage of net sales after the product receives first marketing approval (including conditional approval) in the partnership regions. |
| Sales Milestones | Additional payments tied to net‑sales thresholds reached each year. |
| Strategic Platform Collaboration | Hisun will partner with Ascentawits on the AKR1C3 enzyme‑activation platform. Ascentawits will use its platform to develop and advance Hisun‑designated drugs to clinical‑trial approval in Mainland China. |
| Platform Up‑front Payment | RMB 5 million paid immediately to Ascentawits. |
| Option‑Based Payments | Upon exercising an option, Hisun will pay an agreed fee for each individual drug under development. |
Strategic Implications
- Market Access – The agreement gives Hisun a foothold in the rapidly expanding Chinese therapeutic market with a high‑potential oncology candidate.
- Innovation Synergy – Leveraging Ascentawits’ AKR1C3 platform could accelerate the development of a broader pipeline of small‑molecule therapeutics for Hisun.
- Financial Flexibility – The capped milestone structure limits upfront risk while providing upside potential tied to commercial performance.-Fineline Info & Tech