On December 16, 2020, SHENZHEN CHIPSCREEN BIOSCIENCES CO., LTD. (hereinafter referred to as: CHIPSCREEN BIOSCIENCES) and ZHEJIANG HISUN PHARMACEUTICAL CO., LTD. (hereinafter referred to as: HISUN PHARMACEUTICAL) announced that they have reached a strategic cooperation. CHIPSCREEN BIOSCIENCES will exclusively grant HISUN PHARMACEUTICAL the right to promote Bilessglu® (Chiglitazar Sodium tablets), independently developed and manufactured by its wholly-owned subsidiary CHENGDU CHIPSCREEN PHARMACEUTICAL CO., LTD., in 19 provinces and regions in China. This cooperation intends to quickly provide to Chinese patients with this innovative diabetes treatment mechanism. CHIPCREEN BIOSCIENCES remains as the owner and manufacturer of the drug. Dr. Lu Xianping, Chairman of CHIPCREEN BIOSCIENCES, and Mr. Li Yan, President of HISUN PHARMACEUTICAL, signed a granting agreement, marking a milestone for the two parties to establish a long-term, stable and mutually beneficial strategic partnership.

Dr. Lu Xianping, Chairman of CHIPCREEN BIOSCIENCES, said: "Diabetes is one of the chronic diseases with highest incidence in the world. China has the largest number of diabetic patients in the world. However, significant clinical needs should be recognized due to the unsatisfied outcome using conventional treatments. Chiglitazar Sodium is a configuration-restricted activator of nuclear receptor peroxisome proliferating receptor (PPAR) independently developed by CHIPCREEN BIOSCIENCES. It has obtained invention patents in many countries and regions around the world. As the world's first PPAR pan agonist that completed two confirmatory phase III clinical trials, Chiglitazar Sodium has shown significant and long-lasting hypoglycemic effects in a series of clinical studies, as well as other comprehensive effects including significant insulin sensitization and blood lipid regulation. It also provides potential liver protection. Therefore, it is expected to bring more clinical benefits to patients with diabetes and metabolic syndrome. In September 2019, the New Drug Application (NDA) of Chiglitazar Sodium was accepted by Center for Drug Evaluation. We look forward to cooperating with HISUN PHARMACEUTICAL to make innovative drug benefit more diabetic patients, enabling 'Healthy China Initiative' using local innovation."

Mr. Li Yan, President of HISUN PHARMACEUTICAL, pointed out: "We are very happy to be a partner with CHIPCREEN BIOSCIENCES to provide innovative drugs with unique mechanism of actions for Chinese diabetic patients. HISUN PHARMACEUTICAL has a complete and professional academic promotion system, as well as an efficient and innovative operation management system. We will make full use of our advantages, such as nationwide marketing, promotion, networking, to formulate market strategies, complete academic promotion, brand management and other integrated services together with CHIPCREEN BIOSCIENCES. Such cooperation will rapidly expand the coverage of the drug product after its launch, providing professional pharmaceutical services to doctors and patients, and benefit more patients."