Duality Biotherapeutics rises most in near six weeks on Roche's Genentech tie-up
BUZZ-Duality Biotherapeutics rises most in near six weeks on Roche's Genentech tie-up ** Shares of Duality Biotherapeutics Inc 9606.HK rise 6.3% to HK$207.8, on track for biggest one-day pct advance since July 20
** Stock hit the highest level since August 11
** Duality said it entered into a collaboration and license agreement with Roche Group's Genentech Inc to develop next-generation antibody-drug conjugates (ADCs) targeting certain oncology indications
** Duality will lead discovery and early global clinical development while Genentech will obtain an exclusive worldwide license to the resulting collaboration ADCs
** Duality will receive an upfront payment of $45 million and will be eligible to receive potential development, regulatory and commercial milestone payments of more than $1 billion across all collaboration programs
** HK-listed company says it will be entitled to receive tiered royalty payments on annual net sales of approved products arising from the collaboration
** YTD, stock down 30.7%, while Hang Seng Biotech Index .HSBIO up 14.2%
(Reporting by Donny Kwok)
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