Shanghai – January 29, 2026 – Cooley advised Jiangsu Chia Tai Fenghai Pharmaceutical (CTFH), an integrated pharmaceutical company with capabilities in research and development, manufacturing, and commercialization, in connection with Formation Bio’s acquisition of worldwide rights, excluding Greater China, to FHND5032, an oral, small-molecule miR-124 activator being developed for the treatment of autoimmune diseases. The asset will be housed within Formation’s newly formed subsidiary Kenmare Bio, with plans to enter the clinic in 2026.

Under the terms of the agreement, CTFH will receive a minority equity stake in Kenmare Bio, plus an upfront payment and additional development, regulatory and commercial milestones, totaling up to US$500 million, as well as royalties on potential future sales.

Partner Yiming Liu and special counsel Monica Xu and Longbo Wang led the Cooley team advising CTFH.

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