Jiaks (01167.HK) announced that its indirectly non-wholly-owned subsidiary, Jiaks Pharmaceuticals, has entered into a licensing agreement with shanghai allist pharmaceuticals co., ltd. on August 30 for the KRAS G12C inhibitor Glecirasib (JAB-21822) and the SHP2 allosteric inhibitor JAB-3312, and has received a payment of 0.173 billion yuan (RMB) including an initial payment of 0.15 billion yuan and compensation for some research and development expenses and other payments.

The Group believes that the receipt of the initial payment and compensation for some research and development expenses and other payments will further enhance its cash reserves and provide support for the advancement of future pipeline research and development.