Sihuan Pharmaceutical Holdings Group Ltd. (0460) has signed a cooperation agreement with U.S.-based biotechnology company Abalone Bio to carry out global research and development of a new-generation innovative drug for obesity treatment. The initiative aims to address clinical limitations of existing weight-loss therapies by targeting and activating metabolism-related G protein-coupled receptors (GPCRs) to improve energy expenditure and help maintain or increase muscle mass.

Based on the agreement, Abalone Bio will provide its core technology and platform in GPCR antibody discovery. Sihuan Pharmaceutical will contribute its research strengths in metabolic diseases, full-chain industrialization resources, and a mature business system established in Greater China. The joint effort seeks to reduce R&D risks and accelerate project progress while ensuring compliance and feasibility from research to commercialization.

Sihuan Pharmaceutical recently completed a strategic investment in Abalone Bio, forming the foundation for further collaboration. This partnership extends Sihuan Pharmaceutical’s innovative reach in obesity treatments and deepens its layout in the GPCR target field. Previously, the group invested in DJS Antibodies, a UK-based enterprise whose GPCR-targeting antibody technology was fully acquired by AbbVie in 2022.

The transaction contemplated under the cooperation agreement does not constitute a notifiable or connected transaction under Hong Kong listing rules, as the highest applicable percentage ratio remains below 5%. This update, released on a voluntary basis, reflects Sihuan Pharmaceutical’s ongoing business development in the medical aesthetic and pharmaceutical sectors.