HK Stock Market Move | LEPU BIO-B(02157) rose nearly 7% in early trading. Previously, the company entered into an exclusive licensing agreement with ArriVent for MRG007.

LEPU BIO-B (02157) rose nearly 7% in early trading, and as of the time of writing, it was up 5.07% at HK$2.9, with a trading volume of HK$12.4945 million. On the news front, Lepu Biopharma previously announced that on January 22, the company entered into an exclusive licensing agreement with ArriVent Biopharma, Inc. Under the agreement, the company granted ArriVent exclusive rights to develop and commercialize the group's innovative antibody-drug conjugate (ADC) MRG007 globally (excluding Greater China). Subject to the terms and conditions of the licensing agreement, ArriVent is authorized to develop, manufacture, and commercialize MRG007 exclusively in the licensed territories. Additionally, the company will receive a one-time upfront payment and milestone payments totaling $47 million, as well as up to $1.16 billion in development, registration, and sales milestone payments, and single to low double-digit tiered royalties on net sales of MRG007 in the licensed territories in the future.