HK-listed HBM jumps on licensing deal with Cullinan Oncology

Cullinan Therapeutics

14/02/2023 05:39

** Shares of immuno-oncology antibody therapeutics developer
HBM Holdings Ltd  2142.HK  jump as much as 13.9% to HK$3.37, on
track for biggest daily pct rise since Jan. 5 if gains hold
    ** Stock hits the highest level since Feb. 7; third biggest
pct gainer in the Hang Seng Composite Index  .HSCI  
    ** Co grants exclusive sub-licensable licence to Cullinan
Oncology Inc  CGEM.O  for the development and commercialisation
of its bispecific antibody targeting tumor-associated antigen
product "HBM7008" in the United States 
    ** HBM shall receive an upfront payment of $25 mln, up to
about $600 mln in potential milestone payments, and tiered
royalties on net sales up to high teens
    ** The Hang Seng Commerce & Industry Index  .HSNC  eases
0.6% and the healthcare index  .HSCIH  falls 1.6%
    ** The Hang Seng Composite Index  .HSCI  slips 0.2% and the
Hang Seng Index  .HSI  edges down 0.1%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))