According to the announcement by Bio-Thera Solutions (688177.SH), the company has signed an agreement with Gedeon Richter Plc. ('Gedeon Richter') regarding the exclusive product commercialization rights of the company's BAT2206 (ustekinumab injection) in the markets of the European Union, United Kingdom, Swiss Franc, Australia, and some other European countries.

The announcement indicates that the transaction amount: the total amount of down payment and milestone payment may reach up to 0.11 billion US dollars, including an 8.5 million US dollar down payment, cumulative milestone payments not exceeding 0.1015 billion US dollars, and a double-digit percentage of net sales as revenue sharing.

It is reported that BAT2206 is the ustekinumab injection developed by Bio-Thera Solutions based on the relevant guidelines for biosimilars from China NMPA, USA FDA, and European EMA. Ustekinumab is a fully human monoclonal antibody that targets the shared p40 subunit of interleukins IL-12 and IL-23. IL-12 and IL-23 are naturally produced cytokines that can be involved in the processes of inflammation and immune response. They can bind specifically and with high affinity to the p40 subunit, thereby disrupting the signaling and cytokine effects mediated by IL-12 and IL-23.

Furthermore, Gedeon Richter is a Hungarian multinational pharmaceutical and biotechnology company headquartered in Budapest. It is one of the largest pharmaceutical and biotechnology companies in Central and Eastern Europe, and its influence is continuously expanding in Western Europe, China, Latin America, and Australia. Gedeon Richter's product portfolio covers several important therapeutic areas, including women's health, central nervous system, and cardiovascular areas. In 2023, Gedeon Richter achieved a revenue of 2.107 billion euros with an EBIT of 0.496 billion euros.