FINWIRES · TerminalLIVE
FINWIRES

Laekna Licenses Cancer Drug Candidate to Vasque Bio Outside Greater China

By

Laekna (HKG:2105) granted Vasque Bio exclusive rights to develop and commercialize its cancer drug candidate LAE118 outside Greater China under a licensing agreement, according to a Wednesday Hong Kong bourse filing.

The biotechnology company will receive a $10 million upfront payment and is eligible for up to $517 million in development and sales milestone payments under the deal.

Laekna will also have the right to acquire, at no additional cost, up to a high-teen-percentage stake in Vasque Bio's outstanding common stock, or to receive cash payments in lieu of the shares.

In addition, the company is entitled to tiered royalties ranging from single-digit to double-digit percentages on future net sales of LAE118 in the licensed territory.

It may also receive additional payments tied to certain strategic transactions involving the drug candidate, the filing said.

Shares of Laekna were down over 4% in Wednesday morning trade.

Related Articles

Asia

Cosmo Chemical Shares Rise 6% on KRW15.5 Billion EcoPro Supply Deal

Cosmo Chemical (KRX:005420) secured a supply contract for cobalt sulfate, a secondary battery cathode material, from EcoPro (KOSDAQ:086520) subsidiary EcoPro EM, according to a Tuesday Korea Exchange filing.The contract, worth 15.47 billion won, is valid till Dec. 31, 2031.Shares of Cosmo Chemical rose nearly 6% in recent trade.

$KOSDAQ:086520$KRX:005420
Asia

Grasim Industries Earmarks INR31 Billion Capex for Lyocell Capacity Expansion

Grasim Industries (NSE:GRASIM, BOM:500300) has received board approval for Phase II expansion of its Lyocell capacity in Harihar, Karnataka, involving capital expenditure of 30.9 billion Indian rupees, according to a Monday filing with the Indian bourses.The expansion will be executed in two phases, adding a total capacity of 110,000 tonnes per annum (TPA) through two 55,000 TPA lines. The first phase is expected to be completed by mid-2028, followed by the second phase by mid-2030.The Phase II expansion will complement Phase I of its Lyocell plant in Harihar, which is already under construction and is expected to be commissioned by mid-2027, the filing stated.

$BOM:500300$NSE:GRASIM
Asia

SEC Wins KRW4.2 Billion Equipment Supply Order from Hanwha Aerospace

South Korean tech and inspection company SEC (KOSDAQ:081180) won an order from Hanwha Aerospace (KRX:012450) to supply the latter with non-destructive testing equipment, according to a Tuesday filing with the Korea Exchange.The contract, worth 4.2 billion won, is valid till Dec. 31, 2027.Shares of Hanwha Aerospace rose nearly 1% in recent trade.

$KOSDAQ:081180$KRX:012450