Exhibit 10.3
Loan Agreement
Borrower: Zhejiang ACEA Pharmaceutical Co., Ltd.
Legal Representative: XU XIAO
Legal Address: No.11 North Huayin Road, Kecheng District, Quzhou City, Zhejiang Province
Registration No.: 91330800MA28F0XMXR
Tel.: 0570-8872301
Lender: ACEA Bio (Hangzhou) Co., Ltd.
Legal Representative: Wang Xiaobo
Legal Address: Building 5, No.2 Xiyuanwu Road, Xihu District, Hangzhou City, Zhejiang Province
Registration No.: 91330100754409128P
Tel.: 0571-28908600
Whereas, the Borrower desires to apply to the Lender for a loan due to operational demand, and the Lender agrees to grant the Borrower a loan. The Borrower and the Lender, intending to be legally bound, hereby enter into the following terms and conditions under this Contract through mutual negotiation.
| 1. | Amount, Duration and Interest Calculation of Loan |
| 1.1. | Loan Amount: RMB (in words) Eight Million Yuan Only. |
| 1.2. | The duration of the loan shall be one year from the date when the loan is actually remitted to the Borrower’s designated bank account. |
| 1.3. | The interest rate of loan hereunder shall be four point seven eight five percent (4.785%) per annum. |
| 1.4. | The Borrower shall pay off the interest on an annual basis and repay the loan principal outright. |
| 1.5. | If the Borrower repays the loan in advance, the interest shall accrue until the actual repayment date. |
| 2.1. | The Borrower shall repay the loan on the maturity date agreed in Article 1.2; if the Borrower fails to make such repayment on time, the Lender shall have the right to exercise other rights stipulated by law or agreed hereunder. |
| 3.1. | This Contract shall come into force after being affixed with official seals of the Parties hereto. |
| 3.2. | This Contract shall be made in two (2) originals with each Party holding one (1) original. |
| 3.3. | Any dispute arising during the performance of this Contract shall be resolved by the Parties through friendly negotiation. If the efforts to negotiate have failed, a litigation may be lodged before the People’s Court where the Borrower domiciles. |
| Borrower (Official Seal): | Lender (Official Seal): |
| Zhejiang ACEA Pharmaceutical Co., Ltd. | ACEA Bio (Hangzhou) Co., Ltd. |
| January 6, 2018 | January 6, 2018 |
