The Board of Zhaoke Ophthalmology Limited announced that the Company has entered into a distribution and supply agreement on NVK002, an atropine sulfate topical ophthalmic solution (the "Product"), with Kwangdong Pharmaceutical Co. Ltd. ("KDP"), a leading, Korean- based company principally engaged in the manufacturing and distribution of pharmaceutical products. Under the terms of the agreement, the Company shall grant to KDP exclusive rights to import, promote, distribute, market, and sell, NVK002 in South Korea.

The Company will receive an upfront payment and is eligible to receive additional milestone payments based on pending achievement of certain regulatory and sales milestones. KDP will purchase the Product in its finished form exclusively from the Company at an agreed transfer price. NVK002 is an investigational, novel, atropine sulfate topical ophthalmic solution for use in the treatment for myopia progression in children and adolescents.

It has a proprietary formulation that successfully addresses the instability of low-concentration atropine; this technology has intellectual property protection globally. NVK002 is preservative-free with an expected shelf life of over 24 months. According to information from China Insights Consultancy ("CIC"), NVK002 is currently one of the most advanced atropine drug candidates globally for myopia progression control, and targets the broadest patient group, covering children and adolescents from 3 to 17 years old.