Sino Biopharm (01177) opened sharply higher, climbing over 5% in early Hong Kong trading. At press time, shares advanced 5.49% to HK$6.72 with turnover reaching HK$52.35 million.
The pharmaceutical giant announced acquiring 95.09% of Shanghai Lixin Pharmaceuticals for approximately $500 million. Combined with its existing 4.91% stake obtained during Lixin's Series C financing, the transaction will make Lixin a wholly-owned subsidiary.
Industry records reveal Lixin's significant licensing achievements: - In May 2023, AstraZeneca secured exclusive global rights to develop and commercialize LM-305, involving $55 million upfront payment and potential milestones up to $545 million. - In November 2024, Merck & Co. obtained worldwide exclusive rights to PD-1/VEGF bispecific antibody LM-299, generating $3.288 billion including $888 million in upfront and technology transfer milestone payments.
Cumulatively, Lixin has secured nearly $4 billion in out-licensing deals, equivalent to approximately ¥30 billion RMB. This acquisition positions Sino Biopharm to capitalize on Lixin's innovative pipeline and robust partnership portfolio.
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