Summary by Futu AI
And Platinum Pharmaceutical-B (02142.HK) recently announced that its wholly-owned subsidiary Nona Bio has signed a licensing and options agreement with global biopharmaceutical company Aslikon. The protocol involves a preclinical monoclonal antibody for the development of novel tumor-targeted therapies. Under the agreement, Nona Bio will receive an upfront payment of $1900 million upon completion of the transaction and have the opportunity to receive a milestone payment of up to $575 million when certain development, regulatory and commercial milestones are met, as well as a rating franchise fee based on net sales. In addition, if Aslicon exercises its option, the Nona creature will receive an additional payment. The agreement is a significant milestone with Platinum Pharmaceuticals Harbour Mice® technology platform, demonstrating...Show More