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Simcere Pharmaceutical Group Limited ( (HK:2096) ) has provided an announcement.
Simcere Pharmaceutical Group Limited announced that its subsidiary Jiangsu Simcere has entered into an exclusive licensing agreement with Boehringer Ingelheim granting the German biopharmaceutical group global rights, excluding Greater China, to SIM0709, a TL1A/IL-23p19 bispecific antibody for inflammatory bowel disease. Under the deal, Simcere will receive an upfront payment of EUR 42 million, is eligible for up to EUR 1,016 million in development, regulatory and sales milestone payments, and will earn tiered royalties on net sales outside Greater China, underscoring the commercial potential of SIM0709 and strengthening Simcere’s position in autoimmune therapeutics; the collaboration also validates the company’s proprietary multi-specific antibody platform, as SIM0709 has shown synergistic efficacy in preclinical studies that exceeded the combined effect of its corresponding monotherapies, potentially enhancing Simcere’s visibility and credibility among global partners and investors.
The most recent analyst rating on (HK:2096) stock is a Buy with a HK$16.30 price target. To see the full list of analyst forecasts on Simcere Pharmaceutical Group Limited stock, see the HK:2096 Stock Forecast page.
More about Simcere Pharmaceutical Group Limited
Simcere Pharmaceutical Group Limited is an innovation- and R&D-driven pharmaceutical company focused on neuroscience, oncology, autoimmune and anti-infective therapies, with a forward-looking portfolio targeting areas of significant future clinical need. Leveraging in-house research and synergistic innovation, the company has built strategic partnerships with multiple innovative enterprises and research institutes to advance its mission of developing medicines “for patients, for life.”
Average Trading Volume: 8,494,219
Technical Sentiment Signal: Buy
Current Market Cap: HK$30.32B
For detailed information about 2096 stock, go to TipRanks’ Stock Analysis page.