Changes in Hong Kong stocks | Quanxin Biotech (02509) rose more than 4%, and the new dual-antibody drug QX027N can receive up to US$700 million in payments when authorized to go overseas

The Zhitong Finance App learned that Quanxin Biotech B (02509) rose by more than 4%. As of press release, it had risen 4.36% to HK$19.61, with a turnover of HK$3.0957 million.

According to the news, Quanxin Biotech announced this morning that on December 19, Quanxin Biotech and LE2025 Therapeutics AG, a subsidiary of Windward Bio, reached an authorized cooperation agreement on the company's self-developed QX027N. Under the agreement, LE2025 was granted the exclusive right to develop and commercialize the QX027N globally (excluding Mainland China, Taiwan, Hong Kong Special Administrative Region and Macau Special Administrative Region). In return, Quanxin Biotech will be entitled to receive payments of up to $700 million, including down payment, Windward Bio's equity, development and commercial milestone payments. In addition, the company will also be entitled to receive tiered royalties based on QX027N's net sales in the licensed region.

According to reports, qx027n is a long-acting anti-TSLPxIL-13 bispecific antibody independently developed by Quanxin Biotech. In November 2025, it obtained an implied clinical trial license (acceptance number: CXSL2500757, CXSL2500758) from the Drug Evaluation Center of the China Drug Administration. It is intended to treat asthma and atopic dermatitis, and has now completed the first domestic phase I clinical trial.