On the evening of October 30, Medici released its Q3 2024 report. In the third quarter, the company achieved operating revenue of 280 million yuan, a year-on-year decrease of 9.83%, and a net profit loss attributable to shareholders of approximately 58.44 million yuan. The company attributed this primarily to changes in the investment and financing environment for biomedicine during the reporting period, intensified industry competition, declining order prices, delays in executing some orders, and a decrease in gross profit margins.

Domestic and international laboratory progress is promising, deepening the global strategic layout. As a pioneer of China's Contract Research Organizations (CRO), Medici has maintained a forward-looking approach since its inception, adhering to a dual-market development strategy that encompasses both domestic and international markets. Its overseas operations span many regions, including the United States, Europe, Japan, and South Korea, and the company has established deep cooperative relationships with internationally renowned pharmaceutical enterprises and research institutions in various countries. In the third quarter of 2024, Medici's second research and development center in Boston officially commenced operations. This milestone marks a critical step forward in the company’s globalization strategy, following the establishment of an office in Boston in 2016 and the launch of its first R&D center at the end of 2023. The second Boston R&D center is equipped with cutting-edge instruments and animal laboratories, boasting a rich library of animal models (including over 440 tumor efficacy models and over 250 non-tumor target research animal models). It can provide efficacy evaluations for small-molecule drugs and biopharmaceuticals, as well as pharmacokinetic evaluations and optimizations that meet ICH, NMPA, and FDA standards, ensuring higher efficiency and quality of drug development services for overseas clients.

Collaborating with strategic partners to empower innovative R&D outcomes, Medici deepened its strategic cooperation with Heng Rui Medicine in Q3 2024 to support innovation in ADC (Antibody-Drug Conjugates), small nucleic acids, and CGT (Cell and Gene Therapy) drugs. This is not the first strategic cooperation agreement between Medici and Heng Rui Medicine; according to Medici's 2019 prospectus disclosure, both parties had already established a solid cooperative foundation before the company's IPO, with Medici providing high-quality, efficient, and high-standard pharmaceutical R&D services to Heng Rui Medicine. Recently, the siRNA drug HRS-9563 injection, co-developed by Medici and Heng Rui Medicine, was approved for clinical trials. During the R&D process, Medici provided preclinical pharmacokinetic studies and safety evaluations under GLP (Good Laboratory Practice).

Additionally, Medici has also reached strategic cooperation with Shanghai Gaobo Oncology Hospital and Shida Pharmaceutical. This collaboration integrates the technical advantages of the three parties in areas such as new drug preclinical research, Pre-IND and IND clinical trial applications, clinical trials, and clinical sample analysis. Together, they aim to enhance the quality and efficiency of the anti-tumor new drug R&D industry chain and accelerate the development process of anti-tumor drugs. In the future, as Medici continues to expand its scale and business, leveraging its rich experience in international pharmaceutical enterprises' preclinical CRO services, the company is expected to maintain a competitive advantage and achieve incremental breakthroughs.

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