According to the Zhito Finance APP, Maiwei Biomedical (688062.SH) announced that its wholly-owned subsidiary Jiangsu Taikang Biomedical Co., Ltd. ("Taikang Biomedical") has signed a "Licensing Agreement" with Runjia (Suzhou) Pharmaceutical Technology Co., Ltd. ("Runjia Pharmaceutical") for the research project RP901. According to the licensing agreement, Runjia Pharmaceutical licenses Taikang Biomedical to research, develop (including research or development through contract research organizations), register, commercialize, and sell the RP901 project and accompanying diagnostics (for the purpose of using licensed products only) in the Greater China region.

According to the agreement, Runjia Pharmaceutical will receive an initial payment of 50 million yuan, with a maximum of up to 1.07 billion yuan for research and registration milestones, commercial milestone payments, and a commission fee of up to 10% of net sales.

It is reported that the company already has a drug layout in the orthopedic field, and this licensed product RP901 is intended to be developed into a Class 1 new drug for the oral treatment of osteoarthritis. Currently, the trend of population aging in China is becoming increasingly severe, and the issue of obesity is gradually becoming prominent. Age and obesity are the most direct and common factors for the onset of osteoarthritis. The rising patient population presents an expansion for the osteoarthritis medication market, and it is expected that the market for osteoarthritis will continue to rise, facing huge market demand.