Hong Kong Stocks Movement | QYUNS-B (02509) Rises Over 4% as Bispecific Antibody Drug QX027N Licensed Overseas, Potential Payments Up to $700 Million

Stock News2025-12-22

QYUNS-B (02509) surged over 4%, reaching HK$19.61 by the time of writing, with a trading volume of HK$3.0957 million. The company announced earlier today that on December 19, it entered into a licensing agreement with LE2025 Therapeutics AG, a subsidiary of Windward Bio, for its self-developed bispecific antibody drug QX027N. Under the agreement, LE2025 gains exclusive rights to develop and commercialize QX027N globally, excluding mainland China, Taiwan, Hong Kong SAR, and Macau SAR. In return, QYUNS-B is eligible to receive up to $700 million in payments, including an upfront payment, equity in Windward Bio, and milestone payments tied to development and commercialization. Additionally, the company will earn tiered royalties based on QX027N's net sales in licensed regions. QX027N is a long-acting anti-TSLPxIL-13 bispecific antibody independently developed by QYUNS-B. In November 2025, it received clinical trial approval from China's National Medical Products Administration (NMPA) (Application Nos.: CXSL2500757, CXSL2500758) for treating asthma and atopic dermatitis. The drug has already enrolled its first participant in domestic Phase I clinical trials.

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