Junshi Bio Gets License to Develop Anti-Tumor Medication, Shares Rise 4%

MT Newswires Live11-20

Shanghai Junshi Biosciences (SHA:688180) secured a license agreement to distribute and manufacture two dual-targeting fusion proteins in mainland China, Hong Kong, Macau, and Taiwan, according to a Tuesday filing with the Hong Kong exchange.

The dual-targeting fusion protein products are indicated for treating malignant tumors, the filing said.

Junshi Bio will pay $1.5 million to the unnamed licensor as upfront payment, and up to 740 million yuan in aggregate milestone payments based on sales and research and development of the products, the filing said.

The company will also pay royalties equivalent to a single-digit percentage of annual net sales, the filing said.

Should the licensor grant rights to a third party to develop and sell the products outside of China, Macau, Hong Kong, and Taiwan, the licensor will pay Junshi Bio up to 20% of the sublicense revenue or $200 million, whichever is lower, the filing said.

Shares jumped 4% in Hong Kong during Wednesday's trading.

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