HK Stock Market Move | INNOVENT BIO (01801) rose more than 3% and reached an exclusive licensing agreement with Spero for IBI355. The clinical phase II study for treating SjD will begin early next year.

INNOVENT BIO (01801) rose more than 3%, as of the time of writing, it increased by 3.28% to 93 Hong Kong dollars with a turnover of 1.01 billion Hong Kong dollars. In terms of news, on July 14, according to the official WeChat account of INNOVENT BIO, the company announced a exclusive license agreement with Spero Therapeutics, Inc. (NASDAQ stock code: SPRO, "Spero") on IBI355 (Spero R&D code: SP001) - a third-generation Fc-silenced anti-CD40L antibody. Under the agreement, INNOVENT BIO granted Spero exclusive rights to develop, research, produce, and commercialize IBI355 globally outside Greater China; INNOVENT BIO retained the rights to the product in Greater China. Spero plans to start a Phase II clinical study of IBI355 in IgG4-RD patients in the second quarter of 2027; INNOVENT BIO plans to start a Phase II clinical study of IBI355 in treating SjD in China before the beginning of 2027. Under the terms of the agreement, INNOVENT BIO will receive an upfront payment, as well as milestone payments related to development, registration, and sales, with a total transaction amount of approximately 1.1 billion US dollars. INNOVENT BIO will also receive a gradient-based sales share based on the net sales of the product in the future.