Aligos Therapeutics soars on collaboration deal for liver disease treatment

Aligos Therapeutics

15/05/2023 11:00

** Shares of drug developer Aligos Therapeutics Inc  ALGS.O 
 rise 32.1% to $1.44 premarket
    ** ALGS enters into research collaboration and development
agreement with Xiamen Amoytop Biotech Co Ltd
    ** Cos to collaborate for discovery, research and
development of molecules called oligonucleotides for treatment
of liver diseases in Greater China territory
    ** Under agreement, Amoytop will get option to obtain
exclusive license to develop and commercialize products
resulting from collaboration in Greater China territory, while
ALGS will retain rest-of-world rights
    ** ALGS to receive upfront payment and research
collaboration funding, and will be eligible to receive up to
$109 million in milestone payments for licensed products and
tiered royalties on net sales
    ** Up to last close, stock had risen 14.39% so far this year

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))