Shares of Laekna-B (02105) climbed more than 21% in early trading. As of press time, the stock is up 18.33% at HK$7.585, with turnover of HK$32.8341 million.

On the news front, Laekna recently announced that patient recruitment for a Phase I clinical study of its self-developed LAE118 in patients with advanced solid tumors is underway in China, and the first participant has completed enrollment. This clinical study primarily evaluates the safety, tolerability, pharmacokinetics and preliminary efficacy of LAE118 as a monotherapy and in combination therapy. It is understood that LAE118 has received approval of its new drug clinical trial applications in both China and the United States, and has entered the Phase I clinical research stage.

Public information shows that in June of this year, Laekna licensed the global rights to LAE118 outside Greater China to Vasque Bio. The deal terms include a US$10 million non-refundable upfront payment, up to US$517 million in development and sales milestone payments, tiered sales royalties ranging from single-digit to double-digit percentages, and a high double-digit percentage equity interest in Vasque Bio. If Vasque Bio reaches a strategic partnership or acquisition involving LAE118 in the future, Laekna is also entitled to an additional share of up to 50% of the transaction value.