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RemeGen Co. Ltd. Class H ( (HK:9995) ) has provided an update.
RemeGen has confirmed receipt of a US$650 million upfront payment from AbbVie under their exclusive license agreement for RC148, a PD-1/VEGF targeting bispecific antibody developed by RemeGen. The deal grants AbbVie exclusive rights to develop, manufacture and commercialize RC148 outside Greater China, with RemeGen also eligible for up to US$4.95 billion in additional milestone payments and tiered double-digit royalties, underscoring a significant boost to its financial resources and global oncology ambitions.
The successful transfer of the upfront payment signals that the collaboration is progressing smoothly and solidifies AbbVie’s commitment to advancing RC148 internationally. For RemeGen, this transaction strengthens its cash position, validates its antibody technology platform and enhances its strategic positioning in the competitive biopharmaceutical landscape, while offering potential long-term upside if RC148 advances successfully through development and commercialization.
The most recent analyst rating on (HK:9995) stock is a Buy with a HK$129.00 price target. To see the full list of analyst forecasts on RemeGen Co. Ltd. Class H stock, see the HK:9995 Stock Forecast page.
More about RemeGen Co. Ltd. Class H
RemeGen Co., Ltd. is a biopharmaceutical company incorporated in the People’s Republic of China and listed in Hong Kong. The company focuses on developing innovative antibody-based therapies, including novel bispecific antibody drugs, with a market focus that extends from Greater China to global partnerships for commercialization.
Average Trading Volume: 4,071,683
Technical Sentiment Signal: Buy
Current Market Cap: HK$82.05B
Learn more about 9995 stock on TipRanks’ Stock Analysis page.