HK Stock Market Move | KEYMED BIO-B(02162) rose more than 3% with the launch of CD20CD3 bispecific antibodies in the form of NewCo.

KEYMED BIO-B(02162) rose more than 3%, rising to 3.34% at the time of publication, reaching 30.9 Hong Kong dollars with a trading volume of 31.4 million Hong Kong dollars. On the news front, on January 20th, CanoYa and INNOCARE jointly announced a licensing agreement with Prolium Bioscience to develop and commercialize the CD20CD3 bispecific antibody CM355 (ICP-B02). CanoYa and INNOCARE will receive a total payment of up to 5.2 billion US dollars, including initial and near-term payments, as well as additional payments upon reaching clinical development, registration, and commercialization milestones, and both parties will receive a minority stake in Prolium Bioscience. Additionally, CanoYa and INNOCARE will receive tiered royalty fees based on future net product sales. It is worth mentioning that this is CanoYa's fourth NewCo transaction. On January 10th of this year, CanoYa announced an exclusive licensing agreement with Timberlyne, marking the first NewCo transaction in the biopharmaceutical industry since the beginning of 2025. CanoYa will receive an initial payment of 30 million US dollars and near-term payments, as well as equity in Timberlyne, becoming the largest shareholder of the company. Upon achieving certain sales and development milestones, CanoYa could receive up to an additional 3.375 billion US dollars in payments, as well as tiered royalty fees based on net sales.