AirNexis Therapeutics closed a $200 million series A and secured exclusive rights outside China to HSK39004 (AN01), a PDE3/4 inhibitor for COPD from Haisco Pharmaceutical Group. The deal includes an initial $40 million payment to Haisco plus potential milestones up to $955 million and an equity stake for Haisco. AirNexis positions AN01 across two inhalation formulations and intends to advance global clinical development.