Suzhou Ribo Life Science Co., Ltd and Ribocure Pharmaceuticals AB (together referred to as "Ribo"), in collaboration with Boehringer Ingelheim (referred to as BI), announced the joint development of an innovative RNAi therapy for treating Non-Alcoholic or Metabolic dysfunction-associated SteatoHepatitis (NASH/MASH). This partnership combines Ribo's leading expertise in early-stage research and clinical development in the field of siRNA therapeutics with BI's commitment to improving the quality of life for patients with Cardiovascular, Renal, and Metabolic diseases(CRM).

Ribo will receive an upfront payment under this multi-target collaboration. In addition, Ribo will be entitled to milestone payments based on clinical research, NDA/BLA, commercial success, and royalties on product sales, with a total transaction value exceeding US$ 2 Billion. Prior to this, Ribo also completed a technology licensing agreement with Qilu Pharmaceutical for the PCSK9 phase-I asset. The cash income from these two transactions has exceeded company‘s budget for 2024, and will strongly assure Ribo’s fast business development under existing capital environment.

Since September 2020, Ribo Life Science has completed financing of US$ 100 Million. TIBS first participated in Ribo’s financing in 2020 with continued investments. Ribo and BI’s collaboration represents the first technology collaboration and licensing between the Chinese siRNA companies and MNC pharmaceuticals. This marks the beginning of Ribo’s global expansion for its patented proprietary technology platform. TIBS has focused RNAi field, and constructed a strong investment portfolio. As we kick off the year 2024, following this great step of Ribo's internationalization, we anticipate more positive developments within our investment portfolio.