HK Stock Market Move | ANTENGENE-B(06996) surged over 3% after reaching exclusive licensing agreement with K2 Therapeutics for ATG-106.
Dakki Pharmaceuticals-B (06996) rose more than 3%, as of the time of writing, up 3.24% to HK$3.51, with a turnover of HK$2.8669 million.
ANTENGENE-B (06996) rose more than 3%, as of press time, up 3.24% to 3.51 Hong Kong dollars, with a turnover of 2.8669 million Hong Kong dollars.
On the news front, on June 22, ANTENGENE-B announced that Antengene Biologics Limited (licensor, a wholly-owned subsidiary of the company) and a company newly established by K2 Therapeutics (K2) (licensee) have entered into an exclusive and re-licensable licensing agreement (licensing agreement) for ATG-106 (a targeted CDH6CD3 bispecific T cell engager (TCE) for solid tumors under development). In addition, K2 and the licensor have also entered into an option agreement (option agreement), under which K2 has been granted an exclusive option to acquire an undisclosed preclinical bispecific TCE candidate drug.
According to the option agreement, if K2 exercises the option, the licensor will be entitled to a first payment of approximately $20 million and near-term consideration, including option exercise fees, near-term payments and the first payment, as well as a minority equity interest in the new company to be established by K2. The licensor will also be eligible to receive up to $960.5 million in development, regulatory, and sales milestone payments for the undisclosed TCE candidate drug, as well as tiered royalties based on future net sales.
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