HENLIUS (02696) saw its shares rise over 6% again, bringing its cumulative increase for the month to more than 24%. At the time of writing, the stock was up 5.67%, trading at HKD 70.85 with a turnover of HKD 338 million. The surge follows an announcement on February 5 that Eisai Co., Ltd. and HENLIUS have entered into an exclusive commercialization agreement for the anti-PD-1 antibody Serplulimab in the Japanese market, along with a joint exclusive development and production licensing agreement. Eisai will make an upfront payment of USD 75 million to HENLIUS, with potential regulatory milestone payments of up to USD 80.01 million and sales milestone payments of up to USD 233.3 million. Additionally, HENLIUS will receive double-digit percentage royalties based on product sales. On February 6, Dr. Zhu Jun, Executive Director and CEO of HENLIUS, stated that the company began strategic planning for the Japanese market three years ago and had established a local team with the original intention of independently pursuing the registration and commercialization of Hansizhuang (Serplulimab) in Japan. The decision to abandon the original plan and partner with Eisai for the product's overseas expansion was primarily due to Eisai's "highly sincere" offer.