The Zhitong Finance App learned that 3D MEDICINES (01244) rose more than 8% yesterday, and today's intraday increase is more than 18%. As of press release, it rose 14.17% to HK$6.93, with a turnover of HK$22.6018 million.
According to the news, Jiangsu Corning Jerry, a wholly-owned subsidiary of Corning Jerry Pharmaceutical-B (09966), and Siludi Pharmaceuticals, a non-wholly-owned subsidiary of 3D Medicines, signed a license agreement with Glenmark, a pharmaceutical company listed in India to grant Glenmark an exclusive license and sub-license for KN035 (Envolimab Injection, trade name: Envida) tumor indications to develop KN035 in India and Asia Pacific (excluding Singapore, Thailand and Malaysia), the Middle East and Africa, Russia, the CIS and Latin America Commercialization of all areas of use.
Glenmark is responsible for the development and commercialization costs of the KN035. Under the license agreement, the licensor will collect from GSSA a total of US$700.8 million, including a non-refundable down payment and milestone payments based on certain development, regulatory and commercialization developments, and a license fee of units to double digit percent according to the KN035 net sales level.