HK Stock Market Move | RIBOLIFE-B(06938)soars over 13% and reaches a $4.4 billion global exclusive licensing agreement with Madrigal
Sunbio-B (06938) rose more than 13%, as of the time of publication, rising by 13.65% to $79.95 Hong Kong dollars, with a turnover of 6.4582 million Hong Kong dollars.
RIBOLIFE-B (06938) rose by more than 13%, reaching a 13.65% increase at the time of publication, closing at 79.95 Hong Kong dollars with a trading volume of 6.4582 million Hong Kong dollars.
On the news front, on February 11th, Rebio Life Sciences and its subsidiary Ribocure Pharmaceuticals AB announced a global exclusive licensing agreement with Madrigal Pharmaceuticals, Inc., a leading company in the field of MASH worldwide. Both parties will jointly develop six innovative siRNA therapies targeting metabolic dysfunction-related non-alcoholic steatohepatitis (NASH) based on Rebio Life Sciences' independently developed liver-targeting RiboGalSTAR platform, jointly laying out this globally highly unsatisfied medical need.
According to the terms of the agreement, Rebio Life Sciences will grant Madrigal global exclusive rights for the development, production, and commercialization of multiple MASH single-target and dual-target preclinical siRNA assets. Rebio Life Sciences will receive an upfront payment of 60 million US dollars; after reaching a series of milestones such as clinical development, regulatory approval, and commercial sales, Rebio Life Sciences will be eligible to receive a total of 4.4 billion US dollars, including upfront payments and milestones, and will also be entitled to royalties based on global net sales of the collaborative products.
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