XTALPI (02228) announced that its collaboration with DoveTree is progressing well, with promising data from several pipeline assets showing significant commercial potential. A high-value pan-cancer asset has advanced to the IND-enabling study stage, demonstrating clear target intervention effects and an excellent selectivity window in preliminary biological activity validation. As of the date of this announcement, the company has received the second payment of $19 million as stipulated under the final agreement. Both parties will deepen their collaboration in challenging drug target areas, advancing research and development efforts including molecular glues, to accelerate the clinical translation of candidate drugs. It is noted that in late June 2025, Shenzhen XTALPI entered into a final agreement with DoveTree. Under this agreement, the group will utilize its end-to-end AI-powered drug discovery platform, which integrates artificial intelligence and robotics, to discover and develop candidate drugs for targets selected by DoveTree, primarily in the fields of oncology, immune and inflammatory diseases, neurological disorders, and metabolic dysregulation. DoveTree will obtain exclusive global development and commercialization rights for the resulting products. In August 2025, the group received the initial payment of $51 million as specified in the final agreement.