HENGRUI PHARMA (01276.HK) -1.300 (-1.508%) Short selling $32.77M; Ratio 11.259% announced that it had reached an agreement with US-based Braveheart Bio, Inc., granting Braveheart Bio the exclusive rights to develop, manufacture, and commercialize HRS-1893 worldwide (excluding Mainland China, Hong Kong, Macau, and Taiwan) for a fee.Under the agreement, Braveheart Bio will pay HENGRUI PHARMA an upfront payment of USD65 million, which includes USD32.5 million in cash and USD32.5 million in Braveheart Bio equity, as well as a near-term milestone payment of USD10 million upon completion of technology transfer, totaling USD75 million.Related NewsNomura Raises HENGRUI PHARMA's TP to HKD94.54; Rating Kept BuyHENGRUI PHARMA is also eligible to receive milestone payments related to clinical development and sales, with an amount up to USD1.013 billion.Based on the HRS-1893 sales outside Mainland China, Hong Kong, Macau, and Taiwan, Braveheart Bio will have to pay HENGRUI PHARMA corresponding sales royalties.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-09-09 16:25.)