6996.HK
Antengene announced Friday that it has entered into an exclusive collaboration agreement with Hansoh Pharmaceutical for the commercialization of the relapsed or refractory multiple myeloma drug Xpovio in mainland China.

The latest: Antengene Corporation Ltd. (6996.HK) announced Friday it has entered into an exclusive collaboration agreement with Hansoh Pharmaceutical Group Co. Ltd. (3692.HK) for the commercialization of the relapse or refractory multiple myeloma drug Xpovio in mainland China.

Looking up: Antengene will receive an upfront payment of up to 200 million yuan ($27.7 million) and milestone payments of up to 535 million yuan from Hansoh. Also, it will continue to record revenues from sales of Xpovio in Mainland China.

Take Note: As Hansoh will be solely responsible for the commercialization of Xpovio in Mainland China, Antengene will be required to pay a service fee to Hansoh, implying related revenue will be diluted.

Digging Deeper: Antengene, incorporated in August 2018 and headquartered in Shanghai, focuses on the development of innovative anti-tumor drugs and was listed on the Hong Kong Stock Exchange in November 2020, raising approximately HK$2.77 billion ($355 million). In May last year, its first commercialized product, Xpovio, was launched in China, bringing in more than 53 million yuan in turnover in just over a month and contributing nearly 160 million yuan to last year’s annual revenue. In addition, the company has nine other oncology-focused clinical stage candidates in its pipeline, one of which will soon enter the IND application stage.

Market Reaction: Antengene shares rose on Friday to close up 1.5% at HK$1.35 by the midday break. It now trades at the lower end of its 52-week range.

Translation by A. Au

Have a great investment idea but don’t know how to spread the word? We can help! Contact us for more details.

To subscribe to Bamboo Works weekly free newsletter, click here

Recent Articles

Qudian abandons last mile delivery

Qudian: A slow-motion privatization?

The company said it is contemplating winding down its last-mile delivery service after stiff competition caused its revenue to plunge in the first quarter Key Takeaways: Qudian’s revenue fell by…
Yeahka secures bridgehead in U.S. payments market

Yeahka secures bridgehead in U.S. payments market

The Chinese fintech has cleared one of many regulatory hurdles to enter the U.S. digital payments business after gaining a state-level operating license Key Takeaways: After getting U.S. federal clearance,…
Sante makes infant nutritional products

Sainte Nutritional nurtures Hong Kong IPO

The Qingdao-based maker of food for special medical purposes is challenging international firms that still dominate the China market but could face tariff uncertainties Key Takeaways: Sainte Nutritional has filed…