Yunnan Baiyao Group (SHE:000538) bought the rights of antibody drug KA-1641 from Kangyuan Bochuang Biotechnology (Beijing), according to the company's filing on the Shenzhen Stock Exchange.
The down payment costs 6 million yuan and the research and development and registration milestone payment will amount to 32 million yuan.
The Chinese pharmaceutical company will conduct research and development, production and commercialization activities for the drug worldwide, the June 28 filing added.
Shares of the company rose almost 2% in recent trade.
Price (RMB): ¥52.17, Change: ¥+1.02, Percent Change: +1.99%
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