Shares of HANSOH PHARMA (03692) rose more than 4% in trading. At the time of writing, the stock was up 3.93% to HK$33.84, with a turnover of HK$285 million.
The catalyst for the move was a company announcement. On July 14, 2026, Avere Therapeutics, Inc., a company in which HANSOH PHARMA has invested, entered into a merger agreement with Nasdaq-listed NextCure, Inc. Under the terms of this agreement, Avere will be merged into NextCure.
In connection with this transaction, the group has granted Avere an exclusive license for its cyclic peptide interleukin-23 (IL-23) receptor antagonist, HS-20118 (AVR-001). The group also participated in a private placement initiated by Avere, which included other investors.
Previously, on June 15, 2026, the group entered into an exclusive license agreement with Avere for this product. According to the licensing terms, HANSOH PHARMA has granted Avere the exclusive right to develop, manufacture, and commercialize the product globally, excluding mainland China, Hong Kong, Macau, and Taiwan.
As part of this agreement, the group is entitled to receive an upfront payment totaling $120 million. It is also eligible for potential development and sales milestone payments of up to $2.18 billion, in addition to tiered royalties ranging from mid-single-digit to low-double-digit percentages based on net sales in the licensed territories.
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