Sino Biopharmaceutical (01177.HK) opened over 5% higher in Hong Kong trading. At press time, shares gained 1.88% to HK$6.49 with turnover reaching HK$706 million.
The pharmaceutical giant announced a $500 million deal to acquire 95.09% equity in Shanghai Laixin Pharmaceuticals. Combined with its existing 4.91% stake obtained during Laixin's Series C funding, this transaction will make Laixin a wholly-owned subsidiary of Sino Biopharmaceutical.
Industry records reveal Laixin's significant licensing achievements: In May 2023, AstraZeneca secured exclusive global rights to develop and commercialize LM-305, involving $55 million upfront payment plus potential milestones up to $545 million. By November 2024, Merck & Co. obtained worldwide rights to PD-1/VEGF bispecific antibody LM-299, generating total proceeds of $3.288 billion including $888 million upfront payment and technology transfer milestones.
To date, Shanghai Laixin Pharmaceuticals has out-licensed nearly $4 billion worth of assets, equivalent to approximately ¥30 billion.
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