HBM Gets Health Boost From Drug Licensing Deals

News Snapshot:

deliormanli As China's pharmaceutical sector battles through tough times, some biotechs are still managing to push ahead with novel drugs and make money along the way. HBM Holdings Ltd. (OTCPK:HBMHF) (2142.HK), for one, has found strength in numbers, striking drug development agreements with a host of prominent partners. On Friday came news of another licensing-out deal, under which HBM subsidiary Nona Biosciences gets an initial $53 million and milestone payments of up to $1.05 billion from Seagen Inc., owned by global pharmaceutical giant Pfizer (PFE). Under the deal, Seagen (SGEN) will develop an antibody-drug conjugate (ADC) created by Nona Biosciences...