** Shares of Aadi Bioscience AADI.O rise about 40% to $3.25 in premarket trading
** AADI says that it entered into an agreement with China-based biotech firms WuXi Biologics 2269.HK and HANGZHOU DAC to develop and potentially sell three experimental antibody-drug conjugates (ADCs) treatments
** AADI will pay $44 mln upfront and $805 mln in milestone payments under the agreement to the firms
** Separately, company is selling its FDA-approved cancer treatment, Fyarro, to KAKEN Pharmaceutical 4521.T for $100 mln
** AADI expected to raise about $100 mln through private investment in public equity (PIPE) financing
** Proceeds from the sale of the cancer drug and PIPE financing are expected to fund company's operations into late 2028 - AADI
** As of last close, stock has risen about 15% YTD
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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