HK-listed Metis TechBio climbs on Boulevard Bio tie-up
BUZZ-HK-listed Metis TechBio climbs on Boulevard Bio tie-up ** Metis TechBio 7666.HK climbs 4.7% to HK$15.28
** The firm, which develops AI-driven nanomaterial platform technologies, said it entered into a global exclusive license agreement with Deerfield Management-backed US biotechnology firm Boulevard Bio Inc
** The deal grants the US firm the global rights to develop, manufacture, commercialise Metis' experimental biologic drug MTS-128
** Metis TechBio will receive an upfront payment of $20 mln, and is eligible to receive up to $1.6 bln in development, regulatory, commercial milestone payments, plus tiered sales royalties based on product sales - co
** Since debut on May 13, Metis TechBio stock up 44.6% from the offer price of HK$10.50 apiece
** YTD, Hang Seng Biotech Index .HSBIO down 11.1%
(Reporting by Donny Kwok)
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