Alphamab Strikes Deal with Nasdaq-Listed ArriVent to Co-Develop Antibody Drug Conjugates

MT Newswires Live06-05

Alphamab Oncology (HKG:9966) unit Jiangsu Alphamab Biopharmaceuticals has entered into a research and collaboration agreement with Nasdaq-listed ArriVent BioPharma, a Wednesday filing with the Hong Kong bourse said.

The parties will collaborate to use Alphamab Oncologyâs proprietary linker-payload (Alphatecan) and glycan-conjugation platforms to discover and develop novel antibody-drug conjugates (ADCs).

Alphamab will retain the rights to develop and commercialize the ADC products in mainland China, Hong Kong, Macau, and Taiwan, while ArriVent will have exclusive rights for the same in regions outside Greater China.

Under the contract, Alphamab will receive a one-time upfront payment and potential milestone payments of up to $615.5 million, as well as sales royalties.

Shares of the company closed over 15% higher on Wednesday.

Price (HKD): $3.02, Change: $+0.40, Percent Change: +15.27%

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