Jacobio Pharmaceuticals Group's (HKG:1167) subsidiary Jacobio Pharmaceuticals received an upfront payment of 172.8 million yuan from Shanghai Allist Pharmaceuticals (SHA:688578) for the License-Out agreement between the parties, a Friday filing with the Hong Kong Exchange said.
The payment includes the upfront payment of 150 million yuan and partial payment for research and development expenses out of the total of 200 million yuan Jacobio is supposed to receive from Allist in the near term.
Jacobio Pharmaceuticals, the subsidiary, had entered into a license-out agreement for the R&D, manufacturing, and commercialization of its Glecirasib (JAB-21822) and JAB-3312 with Allist for the regions of China, Hong Kong, Macau, and Taiwan on Aug. 30.
The oncology therapies company's shares closed nearly 5% higher on Friday.
Price (HKD): $1.84, Change: $+0.080, Percent Change: +4.55%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.