VastProTech Held TGV Project Reach the Key Milestone Awarding Meeting

On July 21, 2023, VastProTech held a meeting to recognize the TGV project for reaching significant milestones.

The TGV project was initiated in February 2021. VastProTech signed a technology development and intermediate supply contract with a key customer in May 2021. Also, we completed technology route development in October 2021 and completed qualified kilo-scale production in January 2022. After that, we achieved Milestone I in September 2022 and achieved Milestone 2 in June 2023 (Milestone II).

Meanwhile, the pipeline of innovative drug molecules based on natural products with clinical efficacies in the TGV program continues to advance and make positive progress.

During the execution of the TGV program, the project team has gone through a difficult period in preventing the COVID-19 epidemic. Team members exerted their subjective initiative to overcome various difficulties, and the project advanced and reached important nodes orderly. According to the Company's Employee Handbook and Project Management System (Trial), the Company took out a portion of the profits from the project phase to recognize the project team members with cash rewards.