Jiahe Bio-B (06998) rose more than 11%. As of press release, it rose 11.57% to HK$1.35, with a turnover of HK$1.2375 million.
The Zhitong Finance App learned that Jiahe Bio-B (06998) rose by more than 11%. As of press release, it had risen 11.57% to HK$1.35, with a turnover of HK$1.2375 million.
According to the news, Jiahe Biotech announced this morning that it has signed a license agreement and equity agreement with TRC 2004 (a company co-founded by Two River and Third Rock Ventures). Under the license agreement, Jiahe Biotech has agreed (among others) to grant the licensee an exclusive global license (excluding mainland China, Hong Kong, Macau and Taiwan) to develop, use, manufacture, commercialize and otherwise utilize GB261.
Under the terms of the license agreement and equity agreement, in exchange for the license, Jiahe Biotech will receive: 1) a significant number of shares from licensees; 2) a down payment of tens of millions of dollars; 3) milestone payments of up to $0.443 billion; and 4) tiered royalties representing a single-digit to double-digit percentage of net sales.