HK Stock Market Move | HBM HOLDINGS-B(02142) has risen by over 4%. Its subsidiary company has entered into authorization and cooperation agreements with business partners to advance the new therapy of CRH.

HBM HOLDINGS-B (02142) rose more than 4%, as of the time of writing, it rose by 4.5% to 5.8 Hong Kong dollars, with a turnover of 6.2677 million Hong Kong dollars. On the news front, HBM HOLDINGS-B announced that its innovative biotechnology company, HBM Alpha Therapeutics (HBMAT), has entered into an authorization and collaboration agreement with a business partner to advance a new therapy for the treatment of various diseases involving corticotropin-releasing hormone (CRH). According to the agreement, the business partner is granted exclusive rights to develop any pharmaceutical product containing or incorporating HBM9013 globally (excluding Greater China, namely mainland China, Taiwan, Hong Kong and Macau). Under the terms of the agreement, HBMAT is entitled to receive up to a total of $395 million in upfront and potential milestone payments, as well as tiered royalties based on single-digit percentages of net sales during the term of the license. In addition, HBMAT also has the right to receive warrants to acquire a minority stake in the business partner. HBM Alpha Therapeutics is known for developing antibody therapies for rare genetic diseases such as congenital adrenal hyperplasia (CAH) and polycystic ovary syndrome (PCOS), which are also applicable to other endocrine disorders associated with abnormalities in the hypothalamic-pituitary-adrenal axis (HPA).