Shares of HENLIUS (02696.HK) surged 10.81% during the intraday trading session on Friday, following news of a licensing deal with India-based pharmaceutical company Dr. Reddy's Laboratories (REDY.NS) for its myeloma drug HLX15.
Under the agreement, HENLIUS will grant Dr. Reddy's the license to develop, manufacture, and commercialize HLX15 in the United States, United Kingdom, Switzerland, and 42 other European countries. Dr. Reddy's will pay an upfront payment of $33 million, milestone payments of up to $98.6 million, and royalties of up to 8% of annual net sales to HENLIUS.
HLX15 is a biopharmaceutical product used for the treatment of multiple myeloma, a type of blood cancer. The deal represents a significant step in HENLIUS's expansion into overseas markets and reflects the growing demand for innovative cancer treatments globally.
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