Transcenta, IVD Medical to Explore RWA Tokenization of Drug Pipeline

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Transcenta, IVD Medical to Explore RWA Tokenization of Drug Pipeline

MT Newswires Live09-22

Transcenta (HKG:6628) entered a preliminary agreement with IVD Medical (HKG:1931) to explore the issuance of real-world asset tokens on the ethereum blockchain to fund the development of its drug pipeline, according to a Hong Kong bourse filing Monday.

Shares of the biopharmaceutical company gained nearly 15% in pre-market trade, while IVD Medical was up over 11%.

Under the proposal, Transcenta will consolidate six drugs, namely TST003, TST005, TST786, TST105, TST106, and TST01, under its U.S. subsidiary Transcenta Oncology and collaborate with IVD Medical on their RWA tokenization.

Transcenta's assets have a combined valuation of over $1.5 billion, the companies said.

The proposal is subject to definitive agreements.

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