On September 12, 2025, Qingdao Baheal Pharma Co., Ltd. (Stock Code: 301015.SZ) entered into a strategic collaboration with Tianjin JiKun Medicine Technology Co., Ltd. As part of this agreement, Baheal will acquire a 24% stake in JiKun Medicine, securing full rights to its Class I innovative drug for pulmonary fibrosis. In addition, Baheal gains the right of first refusal—under equivalent terms—on the global compound rights of all JiKun pipeline assets.

JiKun Medicine is an innovation-driven biotech company focused on developing new drugs and therapeutic approaches against organ fibrosis, inflammation and immune-system disorders and cancers. The company has established first tier platforms for anti-fibrosis, anti-inflammation and anti-cancer drug R&D, forming a complete research and development system from target discovery to clinical development. Currently, it has global-oriented layout includes seven Class I new drug pipelines advancing across multiple stages.

In anti-organ fibrosis research, JiKun has developed more than ten organ-specific disease models. Its leading product, JK1033—a First-in-Class small-molecule candidate targeting idiopathic pulmonary fibrosis (IPF)—acts through a novel mechanism that modulates multiple fibrosis-related cell types and pathways, delivering anti-fibrotic, anti-inflammatory, and epithelial-protective effects to slow disease progression. JK1033 is currently in Phase I clinical trials in China and has completed Pre-IND discussions with the U.S. FDA, paving the way for IND application.

Baheal Medical operates as an innovative brands commercialization platform, with core strengths spanning product development, manufacturing, and commercialization. The company has built a multi-brand matrix across OTC and healthcare, OTX, oncology specialty medicines, and high-end medical devices, establishing several category-leading brands. Guided by its innovation strategy, Baheal is advancing a dual-engine model of “investment incubation + commercialization,” concentrating on first-in-class drugs and original innovation breakthroughs to accelerate its transformation into a technology-driven enterprise.

Baheal’s proprietary brand Fuzheng Huayu has already secured a strong market position in liver-fibrosis treatment. Under the agreement, Baheal may acquire full rights to JK1033 at a mutually agreed, commercially reasonable price once the program reaches predefined milestones. Exercising this option would broaden Baheal’s innovative drug pipelines and establish a powerful combined presence in both liver and pulmonary fibrosis—enabling more comprehensive solutions for physicians and patients, generating strong portfolio synergies, and reinforcing the company’s leadership in fibrosis therapeutics.

This partnership establishes a deeply complementary alliance: JiKun will continue driving frontier R&D, while Baheal leverages its commercialization capabilities and capital strength to accelerate global industrialization of innovative therapies. Through close collaboration across investment and operations, the two companies aim to enhance profitability, strengthen market competitiveness, and bring more breakthrough treatment options to patients worldwide.