PEGBIO CO-B (ASX: 02565) has announced that, as of July 22, 2026, the first commercial prescriptions for Paidakang® have been issued across multiple medical institutions in China, including Peking University People's Hospital and The Second Xiangya Hospital of Central South University.
At Peking University People's Hospital, the inaugural prescription was written by Professor Ji Linong, a leading expert in the drug's Phase III clinical study and head of the endocrinology department. At The Second Xiangya Hospital of Central South University, the first prescription was issued by Professor Zhou Zhiguang, another Phase III study lead and a key figure in the national key discipline of metabolic endocrinology.
The successful issuance of these first commercial prescriptions signifies that Paidakang® has officially entered the clinical application and patient usage phase. This marks a crucial transition for the company's first self-developed innovative drug, completing its journey from independent R&D and clinical trials to regulatory approval and now commercial deployment.
Paidakang® is the group's proprietary long-acting glucagon-like peptide-1 receptor agonist (GLP-1RA) administered weekly. It has received approval from China's National Medical Products Administration for treating adult type 2 diabetes. The drug features a fixed weekly dose of 0.97mg, requiring no initial dose titration. Clinical studies have demonstrated its sustained and stable blood glucose control, favorable safety profile, gastrointestinal tolerability, and multiple metabolic benefits.
In accordance with the commercialization agreement between the group and Tengrui Pharmaceutical, the successful issuance of the first commercial prescriptions has fulfilled all conditions for the second milestone payment. Consequently, Tengrui Pharmaceutical's obligation to pay this milestone has now formally taken effect.
Tengrui Pharmaceutical has provided written confirmation that the payment conditions have been met and will proceed to pay the second milestone as stipulated in the agreement, amounting to approximately HK$49 million. The group anticipates receiving this payment within the timeframe outlined in the commercialization agreement.
The board of directors views the issuance of the first commercial prescriptions as a significant milestone for Paidakang®'s formal entry into clinical application and patient care. The fulfillment of the second milestone payment conditions further demonstrates the substantive progress and ongoing commitment within the commercialization partnership with Tengrui Pharmaceutical.
These developments represent important advancements for Paidakang® in both clinical application and commercial collaboration. The group will continue to work closely with Tengrui Pharmaceutical to advance market access, academic promotion, channel development, terminal coverage, and patient services for Paidakang® in mainland China. The company remains committed to ensuring product quality management and stable supply to further enhance the drug's clinical and patient accessibility.
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