Harbour BioMed soars on antibody deal with AstraZeneca

8 April 2022

China and USA-based Harbour BioMed (HKEX: 02142) saw its shares rocket as much as 65% on Thursday, after it announced a global out-license agreement with AstraZeneca (LSE: AZN) for CLDN18.2xCD3 bispecific antibody (HBM7022), a novel bispecific antibody generated from Harbour's HCAb based immune cell engagers (HBICE) platform.

This license agreement and recognition by an industry-leading global biopharmaceutical company marks a major milestone in Harbour's business development, validating the potential of the company's technology platform and innovation capabilities, the firm noted.

HBM7022 is a bispecific antibody, currently in pre-clinical stage, that crosslinks tumor cells and T cells by targeting a tumor-associated antigen (Claudin18.2) and CD3, and thus leads to potent T cell activation and tumor elimination.

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