HK Stock Movement | HBM Holdings-B (02142) Surges Over 8% in Early Trading on $1B+ BD Deal with Bristol-Myers Squibb

Stock News10:32

HBM Holdings-B (02142) rose over 8% in early trading, reaching a 6.79% gain at press time to HK$13.36, with a turnover of HK$25.21 million. The company announced a multi-year global strategic collaboration and licensing agreement with Bristol-Myers Squibb (BMY) to discover and develop next-generation multispecific antibodies. Under the deal, HBM Holdings will receive an upfront payment of $90 million and could earn up to $1.035 billion in development and commercial milestone payments, plus tiered royalties, if BMY advances all potential projects. The partnership aims to accelerate multispecific antibody discovery. Notably, this marks HBM Holdings' third major multinational collaboration in 2025. Earlier this year, the company secured a landmark $4.575 billion deal with AstraZeneca for multi-target development, which included a $105 million equity investment and establishment of a Beijing innovation center. In June, HBM Holdings partnered with Otsuka Pharmaceutical on the BCMAxCD3 bispecific T-cell engager (HBM7020). To date, the company has entered seven MNC collaborations totaling over $10 billion in potential value.

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