HK-listed Abbisko climbs most in 12 weeks on Eli Lilly tie-up

Eli Lilly and Co

Yesterday 05:09

** Shares of clinical-stage biopharmaceutical firm Abbisko Cayman 2256.HK climb 5.9% to HK$9.53, on course for the biggest one-day pct gain since April 1
** Stock hit highest level since June 9 in the second rising session 
** Chinese oncology therapies developer said its unit Abbisko Therapeutics has entered into a strategic research collaboration and license agreement with Eli Lilly and Company LLY.N 
** The agreement will allow both firms to collaborate on the discovery and development of medicines across multiple targets, with Abbisko Therapeutics eligible for development, regulatory and commercial milestone payments of up to $1.9 bln
** YTD, stock down 28.6%, Hang Seng Biotech Index .HSBIO down 12.6%
     

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