HK Stock Market Move | LEPU BIO-B(02157) opened more than 13%, and has entered into an exclusive licensing agreement for the innovative ADC MRG007.

LEPU BIO-B (02157) opened more than 13% higher, rising 13.39% to HK$2.71 as of the time of writing, with a trading volume of HK$1.2331 million. In terms of news, LEPU BIO-B announced that on January 22, 2025, the company entered into an exclusive license agreement with ArriVent Biopharma, Inc. (listed on the Nasdaq Global Market with stock code: AVBP). According to the agreement, the company granted ArriVent an exclusive license to develop and commercialize the group's innovative antibody-drug conjugate MRG007 globally (excluding Greater China region). Under the license agreement, the company granted ArriVent: (i) an exclusive license to the group's owned or controlled intellectual property rights related to MRG007 to develop, manufacture, and commercialize any product containing MRG007 in the licensed territory; and (ii) a non-exclusive license to the group's controlled intellectual property rights related to MRG007 to develop, manufacture, and commercialize any product for oncology treatment containing MRG007 in the licensed territory. Subject to the terms and conditions of the license agreement, ArriVent is authorized to develop, manufacture, and commercialize MRG007 exclusively in the licensed territory. Meanwhile, the company will receive a one-time upfront payment and near-term milestone payments totaling $47 million, as well as up to $1.16 billion in development, registration, and sales milestone payments, and tiered royalties in the high single-digit to low double-digit percentage of net sales of MRG007 in the licensed territory in the future.