According to a document submitted to the U.S. Securities and Exchange Commission (SEC), Paragon, a partner of Jade Biosciences, has been prohibited from initiating any new R&D or commercial activities related to its licensed specific targets for at least the next five years.

This restrictive clause means that, within the specified period, Paragon is not allowed to initiate any new projects or promotional activities aimed at developing or commercializing new products for the licensed target. The document specifies the duration of this prohibition, thereby setting clear boundaries for the company's future business directions. The disclosure of this regulatory document provides the market with the latest information on the division of rights between Jade Biosciences and its partners, which may have a significant impact on the strategic planning of the relevant parties.