HK Stock Market Move | QYUNS-B(02509) opened more than 6% higher and reached a global exclusive licensing agreement with Roche for QX031N, with an initial payment of $75 million.

QYUNS-B (02509) opened more than 6% higher, rising 6.49% to 26.9 Hong Kong dollars as of the time of publication, with a trading volume of 2.4049 million Hong Kong dollars. On the news front, on October 28, Transtech Pharma announced a global exclusive cooperation and licensing agreement with F. Hoffmann-La Roche Ltd for its long-acting dual-targeting antibody QX031N developed independently by the company. Under the agreement, Roche will be granted the global exclusive rights for research, development, registration, production, and commercialization of QX031N. In return, the company will receive a one-time, non-refundable, and non-deductible upfront payment of 75 million US dollars, as well as eligibility to receive up to 995 million US dollars in milestone payments related to product development, regulatory approval, and commercialization, as well as escalating royalty fees on potential future product sales. It is reported that QX031N injection is a long-acting dual-targeting antibody targeted at TSLP and IL-33. QX031N is expected to be developed as a new treatment option for respiratory diseases such as COPD and asthma, with the potential to become a First-in-class and Best-in-disease therapy. Qiu Jiwan, founder, chairman, and CEO of Transtech Pharma, stated that going global is the company's unwavering strategic goal. The blockbuster cooperation with Roche is a full recognition of the company's independent research platform and is expected to maximize the global value of QX031N.