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Genscript Biotech ( (HK:1548) ) has provided an update.
Genscript Biotech Corporation announced that its subsidiary, ProBio, received approximately $213.8 million in payments under a licensing agreement with LaNova Medicines Ltd. This agreement grants LaNova an exclusive, worldwide license to develop and commercialize anti-PD-1 single domain antibodies. The payments, which include upfront and milestone payments, as well as sublicense revenue, will enhance ProBio’s cash reserves and strengthen its core competencies. The licensed antibodies demonstrate strong binding and tumor growth inhibition, comparable to Merck’s Keytruda, and have a favorable developability profile for manufacturing.
More about Genscript Biotech
Genscript Biotech Corporation, incorporated in the Cayman Islands, operates in the biotechnology industry. The company, along with its subsidiaries, focuses on the development and commercialization of biotechnological products, including anti-PD-1 single domain antibodies, which are used for immunotherapy applications.
YTD Price Performance: 47.36%
Average Trading Volume: 24,869,196
Technical Sentiment Signal: Buy
Current Market Cap: HK$31.43B
Learn more about 1548 stock on TipRanks’ Stock Analysis page.