Laike Medicine-B (02105.HK) Jumps Over 4% on Exclusive Licensing Deal with Qilu Pharma for LAE002 (Afuresertib)

According to the Zhitong Finance APP, Laikang Medicine-B (02105) opened more than 4% higher. As of press time, it rose by 4.24%, trading at HK$11.8, with a turnover of HK$283,200.

On the news front, Laekang Medicine announced that the group has entered into an exclusive licensing agreement with Qilu Pharmaceutical Co., Ltd. to accelerate the commercialization of the breast cancer candidate drug LAE002 (Afuresertib) in China. Currently, the Phase III clinical trial (AFFIRM-205) of LAE002 for HR+/HER2- breast cancer is proceeding as planned.

According to the terms of the agreement, until the first indication receives new drug application approval in China, Laekna is entitled to receive up to RMB 530 million in non-refundable upfront and clinical development milestone payments, as well as up to a total of RMB 2.045 billion in upfront and milestone payments. In addition, Laekna is also entitled to receive tiered sales royalties on future net sales in the Chinese region, with royalty rates ranging from over ten percentage points to over twenty percentage points.