Shengnuo Pharmaceutical-B (02257) opened more than 11% higher. As of press release, it rose 11.67% to HK$5.07, with a turnover of HK$0.436 million.
The Zhitong Finance App learned that Shengnuo Pharmaceutical-B (02257) opened more than 11% higher. As of press release, it had risen 11.67% to HK$5.07, with a turnover of HK$0.436 million.
According to the news, Shengnuo Pharmaceutical announced that its wholly-owned subsidiary American Sirnaomics has signed a patent transfer and licensing agreement with Sagesse Bio. According to the arrangement of the deal, Sagesse Bio will conduct clinical evaluations on its leading drug candidate SGY-101 immediately following the entry into force of the transaction, and obtain technological and technical support from Sirnaomics and the transfer and licensing of certain intellectual property rights related to the licensed product.
According to the announcement, Sagesse Bio will issue 2.4 million non-voting shares of Sagesse Bio to US Sirnaomics, accounting for 60% of Sagesse Bio's issued and tradable shares after the relevant party subscribed for Sagesse Bio shares; and after certain conditions are met, Sagesse Bio shall pay US Sirnaomics a milestone payment of no more than 33 million dollars. Proceeds received by the Group in connection with the transfer will be used to support the Group's R&D activities and the Group's general working capital purposes.