Harbour BioMed leaps on news of deal with Moderna
Harbour BioMed (HKEX: 02142) saw its shares close up 12% at HK$1.30 today, on the news that its subsidiary Nano Biosciences has entered into a license and collaboration agreement with US biotech Moderna (Nasdaq: MRNA), a pioneer of messenger RNA (mRNA) therapeutics and vaccines, including the highly successful COVID-19 vaccine Spikevax.
The strategic collaboration will focus on discovering and developing nucleic acid-based immunotherapies for select oncology targets using the company’s proprietary heavy chain only antibody discovery platform (HCAb).
On execution of the deal, Moderna will be granted an exclusive sub-licensable license to exploit a panel of sequences against multiple targets, derived from the China and USA-based company’s HCAb platform, to develop products using nucleic acids. Moderna will assume full responsibility for all upcoming development, manufacturing, regulatory, and commercialization activities.
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