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    474   KYG0070S1066

ACESO LIFE SCIENCE GROUP LIMITED

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Hao Tian Development : COLLABORATION AGREEMENT WITH ITOCHU ON PRODUCTS OF PROMETHERA BIOSCIENCES

09/15/2020 | 07:45am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

昊天發展集團有限公司

Hao Tian Development Group Limited

(Incorporated in the Cayman Islands with limited liability)

(STOCK CODE: 00474)

COLLABORATION AGREEMENT WITH ITOCHU

ON PRODUCTS OF PROMETHERA BIOSCIENCES

On 15 September 2020, the board of Hao Tian Development Group Limited (the ''Company'', together with its subsidiaries, the ''Group'') is pleased to announce that Aceso-PrometheraAsia Company Limited (''Aceso-Promethera Asia''), Promethera Biosciences S.A./N.V. (''Promethera Biosciences'') and ITOCHU Corporation (''ITOCHU'') entered into a novated and amended collaboration agreement (the ''Collaboration Agreement'') in connection with licensing, sales and distribution of therapeutic use of certain proprietary intellectual property in allogeneic liver-derivedcell therapy and liver-derivedmesenchymal stem cell therapy for the treatment of Urea Cycle Disorder (UCD), Acute-on-chronicliver failure (ACLF), and Non-alcoholicSteatohepatitis (NASH) in humans (the ''Product(s)'') in Asia.

PARTIES TO THE COLLABORATION AGREEMENT

  1. Aceso-PrometheraAsia, a joint venture between the Group and Promethera Biosciences, has the exclusive rights to research, develop, exploit and commercialise the intellectual property of Promethera Biosciences in the Greater China and Southeast Asia, excluding for the avoidance of doubt any intellectual property related to manufacturing.
  2. Promethera Biosciences is a Belgium-based regenerative medicine technology company that develops and commercializes cell-based therapies for the treatment of patients with acute and chronic liver diseases in humans.
  3. ITOCHU is a leading Tokyo-based trading house with an interest in investing in the emerging regenerative medicine market in Asia.

- 1 -

SCOPE OF COLLABORATION

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.

Shareholders and investors should note that the implementation and schedule of any development plan for a Product will be subject to specific agreement(s) and conditions of registration with local authorities.

By order of the Board

Hao Tian Development Group Limited

Fok Chi Tak

Executive Director

Hong Kong, 15 September 2020

As of the date of this announcement, the Board comprises three executive directors, namely Mr. Xu Haiying, Dr. Zhiliang Ou, JP (Australia) and Mr. Fok Chi Tak, two non-executive directors, namely Dr. Wang Yu and Dr. Li Yao; and three independent non-executive directors, namely Mr. Chan Ming Sun Jonathan, Mr. Lam Kwan Sing, and Mr. Lee Chi Hwa, Joshua.

- 2 -

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Hao Tian Development Group Limited published this content on 15 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 September 2020 11:44:03 UTC


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Sales 2021 98,0 M 12,6 M 12,6 M
Net income 2021 -376 M -48,3 M -48,3 M
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P/E ratio 2021 -3,59x
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