Hansoh Pharma (HANSOH PHARMA) (03692) shares climbed nearly 4% in morning trading, rising 3.58% as of press time to HK$33, with turnover of HK$410 million.
Goldman Sachs published a research report noting that Hansoh Pharma announced a strategic collaboration and licensing agreement with Roche, covering two preclinical ADC programs and multiple additional programs using Roche-proposed targets and Hansoh's proprietary ADC technology platform. This marks the company's first platform-based collaboration, further validating its ADC capabilities.
This is the second ADC collaboration between Hansoh and Roche, and also their first platform-based partnership. The collaboration model is strategically significant, as Hansoh can choose to participate in up to two programs for development outside Greater China in exchange for additional U.S. commercialization upside. This is believed to help gradually build the company's independent global clinical development capabilities.
JPMorgan believes the new collaboration agreement transforms the relationship between the two parties from a single ADC asset to a product portfolio partly built on Hansoh's technology platform, viewing it as another important proof of Hansoh's platform and early-stage drug discovery capabilities. The bank expects a positive share price reaction, with single-digit percentage upside potential.
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