Secures HK$4.7 billion in record-breaking orders and receives approximately HK$400 million as initial payment! Crystal-Tech Holdings surges nearly 23% and hits a new high since February 25th!

Groron.com, August 6th | Crystal-Tech Holdings (2228.HK) surged nearly 23%, reporting an opening price of HK$8.1, a new high since February 25th! On the market front, Crystal-Tech Technology announced on August 5th that it has signed a total order value of approximately HK$47 billion (US$59.9 billion) for pipeline collaboration with DoveTree, and has received around HK$400 million as initial payment in accordance with the agreement.

According to the agreement, Crystal-Tech Technology and DoveTree have reached a cooperation on multiple innovative drug assets in various stages of clinical development, including small molecules and large molecules. The two parties will jointly develop new drugs targeting specified targets designated by DoveTree, with DoveTree having exclusive rights to develop and commercialize related pharmaceuticals worldwide. In return, Crystal-Tech Technology is entitled to receive approximately HK$385 million (US$49 million) as additional payment, as well as potential milestone payments and sales sharing valued at around HK$462 billion (US$58.9 billion). This cooperation has set a new record for the field of AI + robot-assisted new drug development.