Market Insight | KEYMED BIO-B Surges Over 6% Signs Exclusive Licensing Agreement with Belenos Overseas Licensing Two Self-Immunotherapy Drugs
KEYMED BIO-B is now up more than 6%, as of the deadline for submission, up 5.88% to HKD 33.3, with a turnover of HKD 170.38 million. On the news front, on July 9th, KEYMED announced that it has entered into a licensing agreement with Belenos Biosciences, granting the latter exclusive rights to research, develop, register, produce, and commercialize the dual-antibody products CM512 and CM536 globally (excluding Greater China). It is reported that as consideration, KEYMED will receive a $15 million upfront payment and near-term payments, while its wholly-owned subsidiary One Bridge Hong Kong will receive approximately 30.01% equity in Belenos; in addition, depending on the development, regulatory, and commercial milestones of the project, KEYMED may also receive up to an additional $170 million
According to the information from the Wise Finance APP, KEYMED BIO-B (02162) is now up more than 6%, as of the time of publication, it has risen by 5.88% to HKD 33.3, with a turnover of HKD 170.38 million.
On the news front, on July 9th, KEYMED BIO announced that it has entered into a licensing agreement with Belenos Biosciences, granting the latter exclusive rights to research, develop, register, produce, and commercialize the dual antibodies CM512 and CM536 globally (excluding Greater China).
It is reported that as consideration, KEYMED BIO will receive a down payment and recent payments totaling USD 15 million, and its wholly-owned subsidiary, One Bridge Hong Kong, will receive approximately 30.01% of Belenos' equity. In addition, depending on the development, regulatory, and commercial milestones of the project, KEYMED BIO is also expected to receive up to an additional USD 170 million in payments
