Shanghai Huaota Biopharmaceutical Co., Ltd. and Shanghai Junshi Biosciences Co., Ltd.-B (08177-HK) signed ‘Drug Technology Transfer and Cooperative Development Contract’ on June 24th 2019. According to the agreement, Junshi will acquire the existing results its follow-up technical support of Avastin monoclonal antibody biosimilar (project code "HOT-1010") and from Huaota for ￥90 million. After registration is successful, all the operating profits generated by the drug will be distributed equally to Junshi and Huaota. HOT-1010 is a recombinant humanized anti vascular endothelial growth factor (VEGF) monoclonal antibody injection and has acquired investigational new drug approval from the NMPA. HOT-1010 is now in phase I clinical study. HOT-1010 can selectively bind to human vascular endothelial growth factor (VEGF) and block its biological activity. It is mainly used to treat metastatic colorectal cancer and advanced, metastatic or recurrent non-small cell lung cancer.