New stock news: Ankon Biotechnology submits application to Hong Kong Stock Exchange, focusing on developing T cell receptor for treating various cancers and autoimmune diseases.

According to the disclosure by the Hong Kong Stock Exchange on June 17, Anchiano Bio Ltd. has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CITIC SEC and CICC acting as joint sponsors. According to the prospectus, Anchiano Bio is a clinical-stage biotechnology company at the forefront of innovation in the field of bispecific antibody therapy, focusing on developing T cell engagers for treating various cancers and autoimmune diseases globally. Anchiano Bio's oncology pipeline includes three clinical-stage candidate drugs, including (i) core product EMB-01 (targeting EGFR/cMET) for treating colorectal cancer, (ii) two key products EMB-06 (targeting BCMA/CD3) for treating multiple myeloma ("MM") and EMB-07 (targeting ROR1/CD3) for treating lymphoma and solid tumors, and (iii) three preclinical candidate drugs EM1032 (targeting ALPP(G)/CD3), EM1034 (targeting LY6G6D/CD3), and EM1031 (targeting KLK2/CD3). Anchiano Bio's immunology pipeline includes a clinical-stage candidate drug, the key product EMB-06 based on T cell engagers, as well as two preclinical candidate drugs EM1039 and EM1042 based on T cell engagers. Anchiano Bio's core business model leverages nearly a decade of experience in the field, utilizing the company's proprietary bispecific platform and CD3 binding domain library technology to discover, develop, and commercialize bispecific antibodies and T cell engagers. Regarding their plug-and-play technology toolbox, Anchiano Bio's successful core development is a proprietary technology platform aimed at overcoming the limitations of traditional bispecific antibody development. As of the last practicable date (June 10, 2025), the company has established three proprietary technology platforms: FIT-Ig platform, MAT-Fab platform, and T-FIT platform to push the boundaries of bispecific antibody development. In terms of strategic partnerships, according to Frost & Sullivan data, since the end of 2023, Anchiano Bio has established multiple global out-licensing collaborations with a total transaction value exceeding $2.1 billion, ranking second globally in the field of T cell engagers. In the field of immunology, Anchiano Bio has also licensed Almirall (a Spanish pharmaceutical company listed on the Madrid Stock Exchange) to utilize the company's FITIg platform technology for developing bispecific antibodies. As of the last practicable date, Almirall has exercised some of the rights to select FIT-Ig molecules and signed a product series license agreement with the company. Furthermore, Anchiano Bio has partnered with Vignette Bio, Inc. (later acquired by Candid) to advance the development of EMB-06 outside of China (including Hong Kong, Macau, and Taiwan), a high-value alliance with a potential total transaction value of up to $635 million. Additionally, Anchiano Bio has also entered into a strategic research collaboration with Candid to jointly discover and develop new T cell engager candidate projects for various autoimmune indications. Apart from immunology, Anchiano Bio has entered into a licensing agreement with Juri for the independently developed KLK2/CD3 T cell engager, with a potential total transaction value of up to $210 million. Financially, Anchiano Bio recorded revenues of approximately RMB 459 million in the 2024 fiscal year. In addition, the company reported losses of approximately RMB 595 million and RMB 48 million in the fiscal years 2023 and 2024, respectively. According to Anchiano Bio's statement in the prospectus, the company may not be able to successfully develop and commercialize pipeline products of the listed company (including the core product EMB-01) and/or realize significant economic value from such pipeline products.