Hong Kong Stock Moves: Biocytogen-B Surges Over 8% Afternoon Following Whitehawk Deal, Five Bispecific ADC Candidates Going Global

Stock News08-03 14:32

Biocytogen-B (02315) saw its shares rally more than 8% in the afternoon session, last trading up 6.28% at HK$53.30, with turnover reaching HK$52.48 million.

On the news front, Biocytogen recently entered into a global strategic collaboration agreement with Whitehawk Therapeutics, covering multiple bispecific antibody-drug conjugate (BsADC) research programs. The two parties will jointly advance a next-generation therapeutic product pipeline. From the official launch of the collaboration to the signing of the agreement, the process took only about four months, a pace significantly faster than similar industry projects.

Under the terms, Whitehawk will evaluate five bispecific antibodies provided by Biocytogen and has the right to select any resulting ADC candidates to advance into its own pipeline. Biocytogen will receive an upfront payment and potential milestone payments. Whitehawk's CEO stated that the company expects to submit new ADC investigational new drug applications within the next 12 to 24 months.

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