Hansoh Pharmaceutical (03692.HK) Jumps Nearly 4% on $80M Upfront Deal with Regeneron for HS-20094 Global Rights

According to the Zhitong Finance APP, Hansoh Pharma (03692) opened nearly 4% higher. As of the time of writing, it rose 3.85%, trading at HK$27, with a turnover of HK$1.9083 million.

On the news front, Hansoh Pharma announced that it has reached a licensing agreement with Regeneron, granting it global exclusive rights (excluding mainland China, Hong Kong, and Macao) to develop, manufacture, and commercialize HS-20094. According to the agreement, Hansoh Pharma will receive an upfront payment of $80 million, up to $1.93 billion in milestone payments, and royalties in the double-digit percentage. This collaboration aims to accelerate the global R&D and commercialization process of HS-20094.

It is reported that this product is a GLP-1/GIP dual receptor agonist under research, which has successfully completed multiple Phase II trials with positive efficacy and safety data. It is currently undergoing Phase III clinical trials in China. The Board believes that entering into this licensing agreement is in the best overall interests of the Company and its shareholders. The Company will also take this opportunity to maximize the scientific and commercial value of the Group's technology platform.