China NT Pharma Terminates License Agreement with Abcentra for Monoclonal Antibody Technology; Shares Fall 10%

MT Newswires Live07-22

China NT Pharma Group (HKG:1011) (HKG:2199) subsidiary Green-Life Technology (Hong Kong) terminated its acquisition agreement with licensor Abcentra, according to a Friday filing with the Hong Kong Stock Exchange.

The now-terminated agreement should have seen Green-Life Technology granted a perpetual commercialization license for Abcentra's monoclonal antibody technology for the treatment of atherosclerotic cardiovascular conditions, psoriasis, and rheumatoid arthritis, among other conditions, according to a June 2022 filing.

Both parties could not agree on the delays in the research and development and timetable of the agreement, as well as China NT Pharma's shift in focus to bone health, hence the termination, the Friday filing said.

No license fees have been given to Abcentra, the filing said.

Shares plunged 10% in Hong Kong during Monday's afternoon trading.

Price (HKD): $0.30, Change: $-0.04, Percent Change: -10.45%

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