Shares of LAEKNA-B (02105) rose more than 5% in morning trading. At the time of writing, the stock was up 4.78% to HK$9.42, with a turnover of approximately HK$14.23 million.

The upward movement follows an announcement from the company. On June 9, 2026, the group entered into an exclusive licensing agreement with Vasque Bio, Inc.

Under the terms of this agreement, the group has granted Vasque Bio a global exclusive license, excluding mainland China, Hong Kong SAR, Macau SAR, and Taiwan, for the development, manufacturing, commercialization, and other utilization of LAE118. LAE118 is a novel, self-developed PI3K α pan-mutation selective inhibitor.

In return, the group is entitled to receive a non-refundable, non-creditable upfront cash payment of $10 million. Additionally, the group has the right to receive up to a high double-digit percentage of Vasque Bio's issued ordinary shares at no extra cost, or a cash payment in lieu of such shares.

Furthermore, the agreement stipulates that the group is eligible for potential development and sales milestone payments totaling up to $517 million. It also entitles the group to tiered royalty payments ranging from single-digit to double-digit percentages based on the future net sales of LAE118 within the licensed territory.

Should Vasque Bio complete a qualifying strategic collaboration or acquisition transaction linked to the use of LAE118 under specified conditions, the group will be entitled to an additional payment. This payment could amount to up to 50% of the value of that strategic transaction.