📝 Executive Summary
XtalPi (2228.HK) and Les Laboratoires Pierre Fabre announced a collaboration on 9 November 2026 to identify clinical candidates for oncology, dermatology, and rare diseases. XtalPi will deploy its AI and robotics platform to design small-molecule treatments, while Pierre Fabre manages clinical development and commercialization. The agreement includes an upfront payment, milestone payments, and profit sharing, though specific financial terms remain undisclosed.