HK Stock Market Move | LEPU BIO-B(02157) rose more than 10%, the preclinical ADC new drug MRG007 authorized ArriVent, with a total transaction amount of up to 1.2 billion US dollars.

LEPU BIO-B (02157) rose by more than 10%, reaching 9.58% at the time of publication, at 2.63 Hong Kong dollars, with a turnover of 28.4582 million Hong Kong dollars. On the news front, Lepu Biotechnology announced yesterday that it has reached a global exclusive licensing agreement with ArriVent BioPharma, Inc. for the potential best-in-class antibody-drug conjugate MRG007 for gastrointestinal cancer. Under the agreement, Lepu Biotechnology grants ArriVent the global exclusive license to develop, manufacture, and commercialize MRG007 outside the Greater China region (including mainland China, Hong Kong, Macau, and Taiwan). Lepu Biotechnology will receive a one-time upfront payment of a total of 47 million US dollars, near-term milestone payments, and up to 1.16 billion US dollars in development, registration, and sales milestone payments, as well as tiered royalties based on net sales outside the Greater China region. It is reported that MRG007 has shown strong anti-tumor activity in preclinical models of gastrointestinal cancer and has demonstrated a high therapeutic index in IND-supportive studies. The first IND application is planned to be submitted in the first half of 2025, with the initial clinical development focus on colorectal cancer, pancreatic cancer, and other malignant tumors of the digestive tract.