[Rongchang Biology: Signed a global exclusive license agreement for pan-RAS (ON) small molecule inhibitors] On November 9, Rongchang Biology (688331.SH) announced that the company signed a "License Agreement" with Yantai Rongchang Pharmaceutical and obtained a global exclusive license for pan-RAS (ON) small molecule inhibitors. The company will pay a down payment of 50 million yuan, a maximum milestone payment of 4.87 billion yuan, and royalties based on 3%-7% of annual net sales. The company's existing oncology product pipeline currently focuses on solid tumor ADCs and bispecific antibodies. The pan-RAS (ON) small molecule inhibitor project introduced this time can supplement the existing pipeline, broaden the company's oncology product portfolio, and create opportunities for joint development with other assets in the company's pipeline in the future.