Alphamab Oncology (HKG:9966) unit Jiangsu Alphamab Biopharmaceuticals signed a licensing agreement with Shanghai JMT-Bio Technology, a unit of CSPC Pharmaceutical Group (HKG:1093), to develop, sell, and commercialize tumor-related drug JSKN003 in mainland China, according to a Sunday filing with the Hong Kong bourse.
JMT-Bio will obtain the exclusive license and sublicense rights to develop, sell, offer, and commercialize JSKN003 and will be the sole authorized marketer holder. JMT-Bio will bear further clinical development expenses for the drug. Alphamab will have the right to supply the drug outside JMT-Bio's territory, including Hong Kong, Taiwan, and Macau.
Alphamab will be entitled to 3.08 billion yuan, including 400 million yuan and 300 million in upfront and sales milestone payments. The company will also receive royalties on medication sales.
The pharmaceutical stocks were up nearly 39% in recent trading, while CSPC Pharma's shares rose over 5%.
Price (HKD): $4.24, Change: $+1.2, Percent Change: +38.56%
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.