Hansoh Pharmaceutical Group Company Limited (SEHK: 3692) ("Hansoh Pharma") and TiumBio Co., Ltd.(KOSDAQ:321550) ("TiumBio"), a Korean biopharmaceutical R&D company, announced on August 8 that they have entered into an exclusive license agreement for the development, regulatory approval and commercialization of TiumBio's investigational drug TU2670 in China (including Hong Kong, Macao and Taiwan). TU2670 is an orally non-peptide GnRH antagonist. Early phase clinical trials have demonstrated excellent safety and tolerability of TU2670. Pursuant to the exclusive license agreement, Hansoh Pharma will obtain an exclusive license from TiumBio to develop and commercialize TU2670 for the treatment of endometriosis, uterine fibroids and other potential indications within China (including Hong Kong, Macau and Taiwan), and TiumBio will obtain a US$4.5 million upfront payment, a US$1.5 million technology transfer payment and potential payments upon reaching development, regulatory and sales-based commercial milestones of up to US$164 million, plus tiered royalties on future net product sales. "We are pleased to partner with TiumBio, an R&D-focused biopharmaceutical company in South Korea. TU2670 has an excellent safety and tolerability profile and is believed to have great potential for the treatment of endometriosis and other indications." Ms. Sun Yuan, Executive Director of Hansoh Pharma, remarked, "Endometriosis is a common and prevalent disease among women of reproductive age in China and is one of the leading causes of dysmenorrhea, infertility and chronic pelvic pain. With Hansoh Pharma's extensive clinical development and commercialization experience in China, we hope that TU2670, a differentiated innovative drug, will soon be available for patients in China." "We are very pleased to partner with Hansoh Pharma, a leading innovation-driven pharmaceutical company in China. TU2670 has an excellent safety and tolerability profile and is expected to become the best-in-class GnRH receptor antagonist for the treatment of endometriosis and uterine fibroids in China." Hun-Taek Kim, CEO of TiumBio, remarked, "Hansoh Pharma has strong R&D, production and commercialization capabilities. We expect that our collaboration with Hansoh Pharma will accelerate the commercialization of TU2670." About Hansoh PharmaFounded in 1995, Hansoh Pharmaceutical Group Company Limited, the main business entity of Hansoh Pharma, is a leading innovation-driven pharmaceutical company in China. Adhering to the corporate mission to create excellence in pharmaceuticals and enhance innovation in China, Hansoh Pharma focuses on the treatment of oncology, infection, CNS, metabolism and autoimmunity diseases, and is committed to improving human health through continuous innovation. Up to now, Hansoh Pharma has marketed six innovative drugs and formed a rich pipeline, ranked among the top 30 of China's Top 100 Companies in Pharmaceutical Industry and the top 3 of China's Best Industrial Enterprises in Pharmaceutical R&D Pipeline for consecutive years. It is a national key high-tech enterprise and national technology innovation demonstration enterprise. Hansoh Pharma went public on the Stock Exchange of Hong Kong Ltd. in June 2019 (SEHK: 3692). About TiumbioBased in South Korea, TiumBio is an R&D-focused biopharmaceutical company dedicated to the discovery and development of innovative small molecule and biologic medicines. The company is currently developing clinical and pre-clinical drug candidates in the areas of immuno-oncology, fibrosis, endometriosis/uterine fibroids, and hemophilia. TiumBio went public on the Korea Exchange in November 2019 (KOSDAQ: 321550).