On 15 September 2020, the board of Hao Tian Development Group Limited announced that Aceso-Promethera Asia Company Limited, Promethera Biosciences S.A./N.V. and ITOCHU Corporation entered into a novated and amended collaboration agreement in connection with licensing, sales and distribution of therapeutic use of certain proprietary intellectual property in allergenic liver-derived cel therapy and liver-derived mesenchymal stem cell therapy for the treatment of Urea Cycle Disorder (UCD), Acute-on-chronic liver failure (ACLF), and Non-alcoholic Steatohepatitis (NASH) in humans (the Product(s)) in Asia. Aceso-Promethera Asia and ITOCHU will discuss business opportunities regarding the Products for the treatment of UCD, ACLF, NASH and other indications within the agreed scope in the specified territories in Asia. It is expected that the parties will participate in information sharing and initiate negotiations of business opportunity for licensing, distribution and sales of the Products in the identified territory(ies).

As part of the collaboration, Promethera Biosciences will be responsible for the manufacturing of the Products. The parties entered into the Collaboration Agreement with a view of developing a mutually beneficial business relationship and leveraging the competitive advantages of each party for development and commercialisation of the Products in Asia. The Collaboration Agreement is a framework agreement for strategic business cooperation among the parties, and following a successful joint discussion for a Product, Aceso-Promethera Asia will enter into definitive agreement(s) with ITOCHU and the Group will comply with relevant approval procedures and disclosure requirements in accordance with the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited, as and when necessary.