Biocytogen Pharmaceuticals (HKG:2315) said it has entered into an option and license agreement with Acepodia to expand its collaboration on dual-payload bispecific antibody-drug conjugate programs, according to a Monday Hong Kong bourse filing.

Shares of the pharmaceutical firm were up over 9% in Tuesday morning trade.

Under the agreement, Acepodia has an option to obtain exclusive worldwide licences for two bispecific antibody-drug conjugate programs.

Biocytogen said it is eligible to receive an upfront option fee, as well as option exercise fees, development, regulatory, and commercial milestone payments, and royalties on future product sales if the options are exercised.