China's Suzhou Ribo Life Science jumps on Madrigal licensing deal

Madrigal Pharmaceuticals

12/02/2026 03:41

** Suzhou Ribo Life Science shares 6938.HK jump 14.9% to HK$80.8, their highest level since January 26

** Madrigal Pharmaceuticals MDGL.O said on Wednesday it has entered into a global licensing deal with Suzhou Ribo Life Science for six preclinical small interfering RNA programs to treat a type of liver disease

** Madrigal gets exclusive rights to develop, manufacture and commercialise the six siRNA compounds

** Chinese biotech firm will get an upfront payment of $60 mln, with total payments across programs potentially reaching up to $4.4 bln, if milestones are met, and royalties on future net sales

** Since January 9 debut, stock up 39.4% from offer price of HK$57.97

** YTD, Hang Seng Biotech Index .HSBIO up 12.2%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))