HK Stock Market Move | SKB BIO-B(06990) rose nearly 3% and established a strategic partnership with Crescent to jointly develop cancer treatment methods.

SKB BIO-B (06990) rose nearly 3%, as of the time of publication, it rose 2.54% to HK$460.4, with a trading volume of HK$67.43 million. On the news front, on December 4th, SKB BIO-B announced that the company has established a strategic partnership with Crescent Biopharma, Inc. and its wholly owned subsidiary Crescent Biopharma Operating Company, LLC (together referred to as "Crescent" or "Crescent Biopharma"), to jointly develop and commercialize oncology treatments (including novel combination therapies). This collaboration involves the company's antibody-drug conjugate (ADC) SKB105 targeting integrin beta 6 (ITGB6) with a topoisomerase inhibitor payload, and Crescent's programmed cell death-1 (PD-1) x vascular endothelial growth factor (VEGF) bispecific antibody (bispecific) CR-001. Both of these candidate drugs are being developed for the treatment of solid tumors, with phase 1/2 monotherapy clinical trials expected to commence in the first quarter of 2026. As part of this collaboration, the company will receive an upfront payment of $80 million from Crescent, and may be eligible to receive milestone payments of up to $1.25 billion, as well as tiered royalty payments ranging from the mid-to-low double-digit percentage of net sales of SKB105.