HK-listed Lepu jumps most in 5 weeks on exclusive deal with ArriVent BioPharma

ArriVent BioPharma

22/01/2025 02:19

** Hong Kong-listed Lepu Biopharma  2157.HK  jumps 14.2% to
HK$2.73; set for biggest one-day pct gain since Dec. 17, 2024
    ** Stock hits highest since Dec. 27, 2024; on track for
fifth consecutive session of gains
    ** Co grants exclusive global rights to ArriVent BioPharma
 AVBP.O  to develop and commercialize Lepu's novel antibody drug
conjugate candidate MRG007, which is used to treat
gastrointestinal cancers, outside of Greater China
    ** Lepu will get one-time upfront and near-term milestone
payments of $47 mln
    ** Eligible to get up to $1.16 bln in development,
regulatory and sales milestones and tiered royalties in high
single-digit to low-teen percentages on net sales in Licensed
Region
    ** AVBP rose 3.7% on Tuesday
    ** Lepu fell ~38% last year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))