HK Stock Market Move | KEYMED BIO-B(02162) increased nearly 8% again. NewCo's partner company Ouro Medicines was acquired by Gilead.

KEYMED BIO-B (02162) rose nearly 8%, as of the time of publication, it increased by 6.13% to HK$57.1, with a total turnover of HK$163 million. On the news front, Canoya announced that its NewCo cooperative enterprise Ouro Medicines has signed a merger agreement with Gilead Sciences. Gilead will acquire Ouro Medicines through a merger, with a transaction amount including a $1.675 billion upfront payment and up to $500 million in milestone payments, with a total transaction amount of up to $2.175 billion. After the completion of the transaction, Canoya will receive approximately $250 million in upfront payment and up to around $70 million in milestone payments, with total revenue of approximately $320 million; at the same time, Canoya's licensing sales tier for CM336/OM336 will be performed by Gilead. This major transaction not only accelerates the development process of potential best-in-class T Cell Engagers (TCEs) in the global autoimmune disease field, but also fully demonstrates the innovative value of Canoya's TCE self-developed platform.