Jinwu Financial News | Yiming Encore (01541)'s stock price surged higher in early trading. As of press release, it was HK$19.82, an increase of 37.64%, and a turnover of HK$9.0619 million.
According to the news, an authorization and cooperation agreement was signed with SynbioTX, and the company agreed to grant SynBioTX an exclusive license to research, develop and commercialize a number of bispecific antibodies targeting programmed cell death ligand 1 and vascular endothelial growth factor, and several monoclonal antibodies targeting cytotoxic T lymphocyte-related protein 4 outside of Greater China.
According to the agreement, the company will collect a down payment of no more than 50 million US dollars and potential immediate payments, as well as commercial, development and regulatory milestone payments of no more than 2.1 billion US dollars, and royalty fees calculated on a single-digit to the lowest double-digit ratio of net global sales outside of Greater China.