HK Stock Market Move | Simcere Pharma (02096) rose nearly 6% in the afternoon as Roche secured global rights for Simceres SIM0660 for $1.53 billion.

SIMCERE PHARMA (02096) rose nearly 6% in the afternoon. As of the time of writing, it is up 5.82%, priced at HKD 11.63, with a transaction volume of HKD 105 million. On the news front, on September 1, SIMCERE PHARMA's innovative oncology drug company, 3SBio, announced that it has signed an exclusive licensing agreement with Roche for global development and commercialization collaboration on the CD79a/CD19/CD3 tri-specific antibody SIM0660, which has therapeutic potential for various B cell-related diseases. According to the terms of the agreement, Roche will obtain exclusive rights for the development, production, and commercialization of SIM0660 on a global scale. 3SBio will be eligible to receive total deal payments of up to USD 1.53 billion, including an upfront payment of USD 75 million. Based on future net sales, 3SBio may also be entitled to receive tiered royalties of up to double digits.