HK Stock Market Move | KEYMED BIO-B(02162) rose more than 7% BCMA/CD3 double antibodies through NewCo heading overseas funding over 600 million US dollars.

KEYMED BIO-B(02162) rose more than 7%, as of the time of writing, it increased by 7.05% to 41 Hong Kong dollars with a trading volume of 1993.62 million Hong Kong dollars. On the news front, Canoya Bio recently announced that BMCA/CD3 dual antibody will go global through NewCo, and the global rights to CM336 in Greater China will be granted to PML. According to the agreement, PML will pay a $16 million upfront payment and near-term payments, $610 million in milestone payments, and a certain percentage of sales royalties. Canoya will hold a minority stake in Ouro Medicines. Huatai research report points out that considering the preliminary verification of TCE treatment for autoimmunity, and the strong understanding of the autoimmunity field and powerful translational medical capabilities demonstrated by the other party in previous transactions, they are optimistic about the global commercial value of CM336. Maintaining a "buy" recommendation.