Signed 6 Billion Won Contract for Epinephrine Microarray Patch Production Equipment

Signed conditional contract to supply epinephrine microarray patch production equipment to Hanlim Pharm, total 6 billion won
Contract amount equals 56.1% of company's 2025 sales (10.7 billion won)
Payment milestones: 3 billion won advance (after URS confirmation), 2.5 billion won mid-payment (after FAT), 0.5 billion won balance (after pilot production)
Contract period: May 15, 2026 to March 31, 2027
Counterparty Hanlim Pharm (2025 sales 415.4 billion won) has strong creditworthiness
Conditional contract with variable schedule; key risk: milestone technical validations