HK Stock Market Move | JUNSHI BIO (01877) up more than 5% recently plans to invest in Shanghai Zhiyu Biopharmaceutical to layout the research and development of ADC and multi-specific antibodies.

JUNSHI BIO (01877) rose more than 5%, as of the deadline for submission, it rose 4.67% to HKD 17.26, with a turnover of HKD 65.60 million. On the news front, recently, JUNSHI BIO announced that the company intends to enter into a joint venture agreement with Suzhou Zhonghe, Junshi Engineering, Suzhou Junmeng, a joint venture company Shanghai Zhiyu Biopharmaceutical Co., Ltd., and Dr. Yao Sheng. According to this agreement, the transferor (the company, Suzhou Zhonghe, Junshi Engineering, and Suzhou Junmeng) conditionally agrees to grant a license to the joint venture company for a license intellectual property rights for research, development, manufacture, use, and commercialization of licensed products; to transfer tangible assets to the joint venture company; and to transfer IP rights to the joint venture company. As consideration for the aforementioned, the consideration amount is approximately RMB 53.08 million, and the joint venture company will issue new registered capital of RMB 250,000 to the company. The licensed products are products independently developed by the joint venture company based on licensed technology during the research and development process of antibody sequences, including: multi-specific antibody products (three specificities and above); conjugate products (AXC, antibody X conjugate); and derivative products or substantially equivalent products. The tangible assets include instruments, equipment, and supporting facilities located in the transferor's preclinical research laboratory. IP rights include all technical achievements, experimental data, and technical secrets related to the target pipeline or reasonably expected to be used for the development of licensed products, with the target pipeline being the development of antibody technology and ADC platform technology targeting three products in the field of cancer therapy.