Market Insight | KEYMED BIO-B Surges Over 6% Signs Exclusive Licensing Agreement with Belenos Overseas Licensing Two Self-Immunotherapy Drugs

KEYMED BIO-B is now up more than 6%, as of the deadline for submission, up 5.88% to HKD 33.3, with a turnover of HKD 170.38 million. On the news front, on July 9th, KEYMED announced that it has entered into a licensing agreement with Belenos Biosciences, granting the latter exclusive rights to research, develop, register, produce, and commercialize the dual-antibody products CM512 and CM536 globally (excluding Greater China). It is reported that as consideration, KEYMED will receive a $15 million upfront payment and near-term payments, while its wholly-owned subsidiary One Bridge Hong Kong will receive approximately 30.01% equity in Belenos; in addition, depending on the development, regulatory, and commercial milestones of the project, KEYMED may also receive up to an additional $170 million