The Intech Biopharm Ltd. Board of Directors has approved the signing of a supplemental agreement for the SYN010 product with Haisco Pharmaceutical Group. In response to the increasingly stringent regulations on inhalation preparations in China raised by Haisco Pharmaceutical Group, and considering that company has already provided Haisco with product research and trial data in accordance with the original agreement, both parties have discussed and agreed to enter into a supplemental agreement. Content amended: The co-development model for SYN010 has been adjusted from joint collaboration to a model in which company provides product research services.
Upon receiving the research report, Haisco Pharmaceutical Group will evaluate whether to proceed with further product development collaboration. Should they decide to continue, a separate agreement outlining the details of the cooperation will be signed. Under the framework of the supplemental agreement, the rights and obligations stipulated in the original contract are no longer required to be fulfilled by either party.
