On April 18, 2020, for further cooperation, Hailing Pharmaceutical and Suzhou Xintai Pharmaceutical (a subsidiary of BrightGene Bio-Medical Technology Co., Ltd.) signed the Drug Marketing License Holder Technology Transfer Contract. The Drug Marketing License Holder Technology of Caspofungin Acetate for Injection (50 and 70mg, a core product of Xintai Pharmaceutical) transferred to Hailing Pharmaceutical. Xintai Pharmaceutical will provide the drug substances for Hailing Pharmaceutical and the two sides will complete the transfer procedures as agreed in the contract.

Caspofungin is a semi-synthetic lipopeptide echinocandin. It plays a antibacterial role by inhibiting the synthesis of β - (1,3) - D-glucan and be used for treatment of suspicious fungal infections in patients with neutropenia and fever as well as patients with invasive aspergillus who are ineffective and intolerant to other treatments. The drug has the characteristics of broad antifungal spectrum, excellent efficacy and high safety. After the completion of this transaction, Hailing Pharmaceutical will have another heavyweight product to further enrich the company's product line.