Heplatinum Pharmaceutical (2142blackjackcheatcard.HK) bucked the trend at the beginning of the session and rose nearly 18% to 1blackjackcheatcard.65 HKDblackjackcheatcard, the stock price hit a new high since March 14. on the news frontblackjackcheatcardNona Biotech, a wholly-owned subsidiary of Heplatinum Pharmaceuticals, today announced that it has reached a licensing agreement with AstraZeneca for a preclinical monoclonal antibody project to accelerate the development of tumor-targeted therapies.
Under the agreement, Nona Biotech will receive a down payment of US$19 million upon completion of the transaction and be entitled to US$10 million in foreseeable recent milestone payments, as well as up to US$575 million in development, regulatory and commercial milestone payments and tiered royalties based on net sales. In addition, if AstraZeneca exercises its option, Nona Biotech will receive further relevant payments.
