Adlai Nortye Ltd. granted Jiangsu Aosaikang Pharmaceutical Co. Ltd. (Ask Pharm) exclusive rights in China to AN‑9025, a pan‑RAS(ON) oral small molecule designed to target multiple RAS mutations across tumor types. The licensing deal transfers China commercialization and development responsibilities to Ask Pharm. Separately, ASK Pharm confirmed it had secured China rights to a pan‑RAS inhibitor in a series of regional deals, underscoring local firms’ push to in‑license targeted oncology assets. The transactions position Ask Pharm to develop and commercialize RAS‑targeted therapies domestically. The deals reflect continued Western–China licensing flows and local players’ appetite for precision oncology assets. Developers and investors will watch clinical and regulatory plans as Ask Pharm prepares bridging studies and regulatory filings in China.