Recently,Crystal - Pharmatech announced that it has completed a pipeline cooperation signing with DoveTree with a total order size of approximately HK$47 billion (US$5.99 billion), and has received an upfront payment of about HK$400 million (US$51 million) as stipulated in the agreement. This cooperation sets a new record for the order size in the field of artificial intelligence (AI) + robot - enabled new drug R & D.
According to the terms of the agreement, Crystal - Pharmatech and DoveTree have reached a cooperation on a number of macromolecular and small - molecule innovative drug assets in the pre - clinical stage, and will conduct new drug R & D for a series of targets specified by DoveTree. DoveTree has the exclusive right to develop and commercialize the relevant drugs globally.
According to the terms of the agreement, Crystal - Pharmatech and DoveTree have reached a cooperation on a number of macromolecular and small - molecule innovative drug assets in the pre - clinical stage, and will conduct new drug R & D for a series of targets specified by DoveTree. DoveTree has the exclusive right to develop and commercialize the relevant drugs globally.
In return, in addition to the upfront payment, Crystal - Pharmatech is also entitled to a further payment of about 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 entrepreneur in the biopharmaceutical industry, and is named after the Chinese national treasure Davidia involucrata (commonly known as the dove tree). Its aim is to integrate the advantageous resources of drug R & D in China and the United States, utilize cutting - edge artificial intelligence technology and innovative R & D paradigms, combine with the basic scientific foundation of biology, and focus on the development and clinical transformation of "first - in - class" pipeline in the field of major diseases.
Crystal - Pharmatech is a world - leading innovative R & D platform driven by quantum physics, artificial intelligence (AI) and robot technology. The company was founded in the United States in 2014 by three post - doctors in physics from the Massachusetts Institute of Technology, Wen Shuhao, Ma Jian and Lai Lipeng, and landed in Shenzhen in 2015. In June 2024, Crystal - Pharmatech (02228.HK) was listed on the main board of the Hong Kong Stock Exchange, known as the "first stock of AI - driven pharmaceuticals".
In recent years, Crystal - Pharmatech has continued to cooperate with various pharmaceutical companies. According to the data of Yaozhi, Crystal - Pharmatech has reached more than 40 external cooperations. Only this year, Crystal - Pharmatech has reached more than 10 cooperations, with the highest amount reaching US$5.99 billion.
DoveTree was founded by Dr. Gregory Verdine, a legendary entrepreneur in the biopharmaceutical industry, and is named after the Chinese national treasure Davidia involucrata (commonly known as the dove tree). Its aim is to integrate the advantageous resources of drug R & D in China and the United States, utilize cutting - edge artificial intelligence technology and innovative R & D paradigms, combine with the basic scientific foundation of biology, and focus on the development and clinical transformation of "first - in - class" pipeline in the field of major diseases.
Crystal - Pharmatech is a world - leading innovative R & D platform driven by quantum physics, artificial intelligence (AI) and robot technology. The company was founded in the United States in 2014 by three post - doctors in physics from the Massachusetts Institute of Technology, Wen Shuhao, Ma Jian and Lai Lipeng, and landed in Shenzhen in 2015. In June 2024, Crystal - Pharmatech (02228.HK) was listed on the main board of the Hong Kong Stock Exchange, known as the "first stock of AI - driven pharmaceuticals".
In recent years, Crystal - Pharmatech has continued to cooperate with various pharmaceutical companies. According to the data of Yaozhi, Crystal - Pharmatech has reached more than 40 external cooperations. Only this year, Crystal - Pharmatech has reached more than 10 cooperations, with the highest amount reaching US$5.99 billion.
