Sichuan Kelun-Biotech down as part of Merck Sharp license deal terminated

Sichuan Kelun-Biotech Biopharmaceutical

24/10/2023 08:16

** Shares of China's Sichuan Kelun-Biotech Biopharmaceutical
 6990.HK  fall as much as 14.5% to HK$62, their lowest since
July 12
    ** Cancer drug developer says it received formal notice from
Merck Sharp & Dohme LLC (MSD) to terminate an exclusive license
the company granted to MSD to commercialize a preclinical ADC
asset
    ** Says MSD has also decided not to exercise an option to
obtain an exclusive license to another preclinical ADC asset
    ** Adds collaboration with MSD on three clinical-stage ADC
assets and four preclinical ADC assets unaffected
    ** Hong Kong's healthcare index  .HSCIH  rises 1.7% while
Hang Seng Composite Index  .HSCI  slips 0.6%, Hang Seng Index
 .HSI  eases 0.8%
    
  

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