--- title: "XTALPI has received payment from DoveTree again. How far has the cooperation progress gone?" type: "News" locale: "en" url: "https://longbridge.com/en/news/287868354.md" description: "XTALPI recently announced that it has received the second payment of $19 million from DoveTree Medicines, marking progress in the $5.99 billion cooperation framework between the two parties. The pipeline IP for the first payment has been successfully transferred, and one preclinical candidate molecule has entered the IND-enabling stage. Founder Greg Verdine's recent financing and collaboration dynamics have added attention to this payment, indicating that the cooperation is progressing as planned" datetime: "2026-05-28T06:17:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287868354.md) - [en](https://longbridge.com/en/news/287868354.md) - [zh-HK](https://longbridge.com/zh-HK/news/287868354.md) --- # XTALPI has received payment from DoveTree again. How far has the cooperation progress gone? Recently, XTALPI announced that it has received the second payment of $19 million from DoveTree Medicines. It has been just ten months since both parties signed a cooperation framework totaling approximately $5.99 billion last August. According to the information disclosed in the announcement, the pipeline IP related to the previous $51 million upfront payment has been fully transferred, with one preclinical candidate molecule (PCC) entering the IND-enabling stage, demonstrating clear target intervention effects and excellent selectivity in early activity validation. The triggering of the second payment also indicates that the cooperation is progressing according to the established timeline. For investors interested in this transaction, the recent movements of the co-founder Greg Verdine add considerable intrigue to this payment. Verdine is the proponent and one of the most successful practitioners of the concept of "targeting undruggable targets." In the past six months, his founded company Parabilis Medicines completed an oversubscribed Series F financing of $305 million, and last month announced a strategic cooperation with Regeneron worth a total of $2.3 billion, followed by an IPO application submitted to the SEC the next day, likely making it Verdine's eighth publicly listed company. Meanwhile, Revolution Medicines, supported by the scientific foundation laid during his early establishment of Warp Drive Bio, has just delivered astonishing data in its Phase III clinical trial for the pancreatic cancer candidate daraxonrasib, which is expected to be "the biggest breakthrough in cancer treatment in nearly 15 years," and with the fast-track mechanism, it is anticipated to be approved for market within the year, receiving extensive coverage from The New York Times. The progress Verdine has made in financing, IPOs, top MNC transactions, and key clinical data is already a pinnacle achievement on its own. The fact that a scientist with such a multitude of accomplishments, industry-leading clinical translation experience, and a "golden touch" in R&D chooses to fully and deeply bind DoveTree's pipeline development with the XTALPI platform, and that a molecule has entered IND-enabling within less than a year of cooperation, is enough to silence any skeptics. Returning to XTALPI itself, it has also been advancing on multiple dimensions recently. In 2025, the total revenue is projected to be 803 million yuan, a year-on-year increase of 201.2%, achieving annual profitability for the first time; in May, the early investment and ecosystem-enabled JiTai Technology went public on the Hong Kong Stock Exchange, with a public offering subscribed 6,910 times, and a market value of 27.4 billion Hong Kong dollars on its first day of listing; new data or milestone progress has been officially announced for the R&D pipelines with Sigilon Therapeutics, ZhiQing Biotechnology, and Changjiang Life Sciences. In April, wholly-owned subsidiary Ailux appointed former AstraZeneca Senior Vice President Maria Belvisi as Chief Scientific Officer, becoming one of the highest-level executives from a major international pharmaceutical company to join a Chinese innovation company, leveraging her 30 years of R&D experience and multiple pipeline achievements. In March, the financial report announced the first annual profitability, making it the first company in the AI for Science sector on the Hong Kong Stock Exchange to achieve profitability These developments make XTALPI recently appear less like an AI pharmaceutical company that is still "telling stories" and more like an industrial-grade platform that continuously delivers results at multiple nodes. The collaboration with DoveTree is also demonstrating a repeatable model: the initial payment triggers IP transfer, PCC entering IND-enabling triggers the second payment, and subsequent molecule deliveries will trigger more milestones. If this rhythm can be sustained, this series of pipelines is expected to gradually evolve from one-time milestone stories into a predictable source of recurring revenue, contributing to XTALPI's fundamentals. This year, the AI pharmaceutical industry seems to be lacking in large orders, while what is truly scarce are companies that can turn orders into trackable progress bars. Despite large pharmaceutical companies possibly being unwilling to disclose progress, XTALPI continues to steadily share new developments in these collaborations, steadily transforming a beautiful blueprint into pipeline assets and milestone news that investors are eager to see. The latest payment with DoveTree marks another checked node on the progress bar, allowing us to glimpse the reliable efficiency and scale of AI pharmaceuticals transforming into an incremental market for the industry ### Related Stocks - [02228.HK](https://longbridge.com/en/quote/02228.HK.md) - [REGN.US](https://longbridge.com/en/quote/REGN.US.md) - [RVMD.US](https://longbridge.com/en/quote/RVMD.US.md) - [07666.HK](https://longbridge.com/en/quote/07666.HK.md) - [00775.HK](https://longbridge.com/en/quote/00775.HK.md) - [AZN.US](https://longbridge.com/en/quote/AZN.US.md) - [AZN.UK](https://longbridge.com/en/quote/AZN.UK.md) - [RVMDW.US](https://longbridge.com/en/quote/RVMDW.US.md) ## Related News & Research - [XtalPi Receives Second Payment from DoveTree; First Oncology Asset Advances into IND-Enabling Studies](https://longbridge.com/en/news/288085334.md) - [Rokmaster Commences IP Survey at Mystery to Refine Porphyry Targets | RKMSF Stock News](https://longbridge.com/en/news/288228376.md) - [Arasan Chip Systems Announces Industry's First Sureboot™ Total 16-bit xSPI + PSRAM IP Solution](https://longbridge.com/en/news/287942842.md) - [Questcorp Mining and Riverside Resources Advance Toward Drilling with Expanded IP Survey at La Union Project, Sonora, Mexico | QQCMF Stock News](https://longbridge.com/en/news/288379469.md) - [US Cash Grains-Corn, soy basis bids flat-mixed as futures fall](https://longbridge.com/en/news/288330492.md)