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
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.