HK Stock Market Move | JUNSHI BIO (01877) rose more than 3% in early trading, and was granted two licenses for dual-target fusion proteins for the treatment of malignant tumors.

JUNSHI BIO (01877) rose more than 3% in early trading, up 2.39% as of the time of writing, at HK$6.47, with a turnover of HK$6.6765 million. In terms of news, JUNSHI BIO announced that the company recently signed a "License Agreement" with the licensor. According to the license agreement, the licensor grants the company the exclusive license rights and sub-license rights to develop, manufacture, use, import, export, sell, and commercialize two dual-target fusion proteins in the Greater China region (including mainland China, Hong Kong, Macau, and Taiwan). At the same time, the company and the licensor will share in a 50%:50% equity ratio the ownership rights to develop, manufacture, use, import, export, sell, and commercialize one of the licensed products globally. The company will pay the licensor corresponding upfront payments, milestone payments, and sales royalties based on the progress of the project, while the licensor may also pay the company sub-license income outside of the Greater China region. The subject of this transaction is two dual-target fusion proteins (i.e. licensed product 1 and licensed product 2), primarily used for the treatment of malignant tumors. Currently, licensed product 1 is in Phase I clinical trials overseas, and the company has submitted an application to the National Medical Products Administration for Phase I clinical trials of licensed product 1 in China. Licensed product 2 is in the pre-clinical research stage. The announcement stated that the signing of this license agreement is in line with the company's overall development strategy, beneficial for enriching the company's pipeline, improving the company's market layout, providing treatment options for unmet clinical needs in the market, and will have a positive impact on the company's continued operations.