HK-listed Lepu Biopharma jumps most in 3 months on licence deal with AstraZeneca

Lepu Biopharma

23/02/2023 02:27

** Shares of Lepu Biopharma Co Ltd  2157.HK  jump as much as
9.3% to HK$7.37, and on course for the biggest daily pct rise
since Nov 21, if gains hold
    ** Stock hit the highest since Feb 14, snapping three
consecutive sessions of decline
    ** Company says its 30%-owned joint venture with Keymed
Biosciences Inc  2162.HK  has entered into a global exclusive
out-licence agreement with AstraZeneca AB  AZN.L  to develop and
commercialise CMG901, anti-body drug conjugates developed the
joint venture for treatment of gastric and pancreatic cancer 
    ** Shanghai-based company says AstraZeneca will be granted
an exclusive global licence for research, development,
registration, manufacturing, and commercialisation of CMG901 
    ** Says the joint venture will receive an upfront payment of
$63 million with the potential for additional payments up to
$1.13 billion subject to achievement of development, regulatory
and commercial milestones
    ** Shares of Keymed Biosciences Inc  2162.HK  rise as much
as 6.9% 
    ** The Hang Seng Commerce & Industry Index  .HSNC  climbs
0.6% and the healthcare index  .HSCIH  gains 0.7% while the Hang
Seng Index  .HSI  slips 0.1%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))