Recently, Jingtai Technology announced that it has signed a pipeline collaboration agreement with DoveTree for a total order value of approximately HK$47 billion (US$5.99 billion), and has received an initial payment of approximately HK$400 million (US$51 million) as agreed in the agreement. This collaboration sets a new record for order size in the field of artificial intelligence (AI) and robotics-based new drug development.

According to the terms of the agreement, Jingtai Technology and DoveTree have reached a cooperation on a number of large molecule and small molecule innovative drug assets in the preclinical stage, and will conduct new drug research and development for a series of DoveTree-designated targets. DoveTree exclusively enjoys the exclusive global development and commercialization rights of the relevant drugs.

In return, in addition to the upfront payment, Jingtai Technology is entitled to receive a further payment of approximately HK$385 million (US$49 million), as well as potential milestone payments and sales royalties of approximately HK$46.2 billion (US$5.89 billion).

DoveTree was founded by Dr. Gregory Verdine, a legendary biopharmaceutical entrepreneur. Named after the Chinese national treasure, Davidia involucrata (commonly known as the Dove Tree), DoveTree aims to integrate the drug R&D resources of China and the United States, leveraging cutting-edge artificial intelligence technology and innovative R&D paradigms, combined with the basic science foundation of biology, to focus on the development and clinical translation of a "first-in-class" pipeline for major disease areas.

Jingtai Technology is a world-leading innovative R&D platform driven by quantum physics, artificial intelligence (AI), and robotics. Founded in 2014 in the US by three MIT physics postdocs, Wen Shuhao, Ma Jian, and Lai Lipeng, the company established its presence in Shenzhen in 2015. In June 2024, Jingtai Technology (02228.HK) was listed on the Main Board of the Hong Kong Stock Exchange, earning the title "the first AI pharmaceutical stock."

In recent years, Jingtai Technology has continuously collaborated with various pharmaceutical companies. According to Ddu data, Jingtai Technology has reached more than 40 external collaborations. This year alone, Jingtai Technology has reached more than 10 collaborations, with the highest value reaching US$5.99 billion.

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