Corning Jerry Pharmaceutical-B (09966) surged more than 40%. As of press release, it rose 34.31% to HK$4.11, with a turnover of HK$14.1032 million.
The Zhitong Finance App learned that Corning Jerry Pharmaceutical-B (09966) soared by more than 40%. As of press release, it had risen 34.31% to HK$4.11, with a turnover of HK$14.1032 million.
According to the news, Corning Jerry announced that it has signed a license agreement with Jinmante Biotech, a wholly-owned subsidiary of CSPC Group, to develop, sell, and commercialize JSKN003 (an antibody-conjugated drug targeting HER2 double epitopes) in mainland China for the treatment of tumor-related indications. According to the terms of the license agreement, Zinman Biotech will obtain an exclusive license and sublicense to develop, sell, promise to sell and commercialize JSKN003. Corning Jerry will retain the exclusive right to supply JSKN003 for any purpose within or outside the region.
Under the license agreement, Corning Jerry is entitled to receive up to RMB 3.08 billion in advance payments and milestone payments, including advance payments of RMB 0.4 billion, development milestone payments relating to the enrollment of the first patient in multiple registered clinical trials, and regulatory milestone payments and sales milestone payments collected in accordance with the progress of regulatory approval. In addition, Corning Jerry is also entitled to charge a two-digit royalty fee of JSKN003's net product sales.