Changes in Hong Kong stocks | Yingen Bio-B (09606) rose more than 5% in early trading to sign ADC cooperation with Genentech, potential milestone amount exceeding US$1 billion

The Zhitong Finance App learned that Yingen Bio-B (09606) rose more than 5% in early trading. As of press release, it had risen 4.65% to HK$204.6, with a turnover of HK$76.298,600.

According to the news, Yingen Biotech signed a cooperative license agreement with Genentech, a subsidiary of Roche Group, to develop a variety of next-generation ADC drugs for tumor indications based on the company's DUPAC platform. The company will lead the discovery and early global clinical development of collaborative projects. Genentech will obtain an exclusive global license for the ADC generated by the collaboration, and after phase 1a clinical development is completed, Genentech will assume sole responsibility for further clinical development and commercialization.

Under the cooperation agreement, Yingen Biotech will collect a down payment of $45 million and will be eligible to receive a total of over $1 billion in potential development, regulatory and commercialization milestone payments for all cooperative projects. Additionally, the company will have the right to charge tiered royalties for the annual net sales of approved products resulting from the cooperation.