Core Viewpoint - The stock of Baiaosaitu-B (02315) surged over 11%, reaching a new historical high of 44 HKD, following the announcement of a collaboration agreement with Yushibo to advance the development of bispecific antibody-drug conjugates (BsADC) [1] Group 1: Company Developments - Baiaosaitu has entered into an option and licensing agreement with Yushibo, aimed at systematically evaluating the BsADC projects through a structured assessment mechanism [1] - The agreement grants Yushibo an option for global exclusive licensing of two BsADC projects from Baiaosaitu [1] - Baiaosaitu is entitled to receive an upfront payment for the option, and upon Yushibo exercising the option, Baiaosaitu will also receive subsequent payments including option exercise fees, development and regulatory milestone payments, commercialization milestone payments, and sales royalties [1]

Core Viewpoint - The stock of Baiaosaitu-B (02315) has seen a significant increase, reaching a new historical high of 44 HKD, with a current price of 42.50 HKD, reflecting a rise of 7.59% and a trading volume of 85.6693 million HKD [1][6]. Group 1 - On January 9, Baiaosaitu announced a licensing agreement with Yushibo to systematically evaluate the bispecific antibody-drug conjugate (BsADC) projects, aiming to accelerate the development of bispecific antibody dual-drug conjugates (BsAD2C) [1][6]. - The agreement grants Yushibo an option for global exclusive licensing of two BsADC projects from Baiaosaitu [1][6]. - Baiaosaitu is entitled to receive an upfront payment for the option, and upon Yushibo exercising the option, Baiaosaitu will receive additional payments including option exercise fees, development and regulatory milestone payments, commercialization milestone payments, and sales royalties [1][6].

Core Viewpoint - The stock of Baiaosaitu-B (02315) surged over 11% during trading, reaching a historical high of 44 HKD, and is currently up 7.29% at 42.38 HKD with a trading volume of 81.9068 million HKD [1] Group 1: Agreement Details - On January 9, Baiaosaitu announced a licensing agreement with Yushibo to systematically evaluate the BsADC projects through a structured assessment mechanism [1] - The agreement grants Yushibo an option for global exclusive licensing of two BsADC projects from Baiaosaitu [1] - Baiaosaitu is entitled to receive an upfront payment for the option, and upon Yushibo exercising the option, Baiaosaitu will receive additional payments including option exercise fees, development and regulatory milestone payments, commercialization milestone payments, and sales royalties [1]

Core Viewpoint - The stock of Baiaosaitu-B (02315) surged over 11% during trading, reaching a new historical high of 44 HKD, and is currently up 7.29% at 42.38 HKD with a trading volume of 81.9068 million HKD [1] Group 1: Agreement Details - On January 9, Baiaosaitu announced a licensing agreement with Yushibo to systematically evaluate the BsADC projects through a structured assessment mechanism [1] - The agreement grants Yushibo an option for global exclusive licensing of two BsADC projects from Baiaosaitu [1] - Baiaosaitu is entitled to receive an upfront payment for the option, and upon Yushibo exercising the option, Baiaosaitu will receive additional payments including option exercise fees, development and regulatory milestone payments, commercialization milestone payments, and sales royalties [1]

Core Viewpoint - The announcement highlights a strategic collaboration between Baiaosaitu-B (02315) and Yushibo Co., Ltd. to accelerate the development of bispecific antibody-drug conjugates (BsAD2C) through a structured evaluation mechanism [1][2] Group 1: Agreement Details - The agreement grants Yushibo a right to obtain global exclusive licenses for two BsADC projects from Baiaosaitu [1] - Baiaosaitu will receive an upfront payment for the option, and subsequent payments will include option exercise fees, development and regulatory milestone payments, commercialization milestone payments, and future product sales revenue sharing [1] Group 2: Collaboration Background - This agreement deepens the collaboration initiated earlier in the year, which focused on evaluating and screening bispecific antibodies and dual-load antibody-drug conjugate (ADC) candidates with therapeutic potential [1] - The combination of Baiaosaitu's RenLite fully human light chain antibody development platform and Yushibo's antibody-drug conjugate (AD2C) technology is seen as a promising technical pathway for the development of a new generation of BsAD2C [1] Group 3: Project Advancement - The collaboration aims to leverage the complementary strengths of both platforms to advance the design of next-generation ADC molecules, addressing limitations observed in traditional ADC projects [2] - The project team is steadily progressing through key evaluation milestones, with decisions based on ongoing research data and Yushibo's internal processes and option exercise criteria [2]

Core Viewpoint - The agreement between Baiaosaitu-B and Yushibo aims to accelerate the development of bispecific antibody-drug conjugates (BsAD2C) through a structured evaluation mechanism [1] Group 1: Agreement Details - Baiaosaitu has entered into an option and licensing agreement with Yushibo, granting Yushibo the option for global exclusive licensing of two BsADC projects [1] - The agreement includes an upfront payment for the option, and upon exercise, Baiaosaitu will receive additional payments including option exercise fees, development and regulatory milestone payments, commercialization milestone payments, and future product sales royalties [1] Group 2: Collaboration Background - This agreement deepens the collaboration initiated at the beginning of the year, which focused on evaluating and screening bispecific antibodies and dual-load antibody-drug conjugate (ADC) candidates with therapeutic potential [1] - The combination of Baiaosaitu's RenLite® fully human light chain antibody development platform and Yushibo's antibody-drug conjugate (AD2C) technology is seen as a promising technical pathway for the development of a new generation of BsAD2C [1] Group 3: Project Advancement - The collaboration aims to leverage the complementary strengths of both platforms to advance the design of next-generation ADC molecules, addressing limitations observed in traditional ADC projects [2] - The project team is steadily progressing through key evaluation milestones, with decisions based on ongoing research data and Yushibo's internal processes and option exercise criteria [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 （股份代號：2315） 自願性公告 通過基於選擇權的評估框架與育世博達成進一步合作 共同推進同類首創雙特異性抗體雙藥物偶聯物項目 本公告乃由百奧賽圖（北京）醫藥科技股份有限公司（「本公司」或「百奧賽圖」）作 出，以向其股東及潛在投資者提供有關本公司最新發展的資料。 本公司董事會（「董事會」）欣然宣佈，近日，本公司與育世博股份有限公司（「育世 博」）達成一項選擇權與許可協議（「該協議」），旨在通過結構化的評估機制，對雙 特異性抗體藥物偶聯物(BsADC)項目開展系統性評估，從而進一步加速雙特異性 抗體雙藥物偶聯物(BsAD2C)的開發進程。 該協議將授予育世博一項選擇權以獲得百奧賽圖兩項BsADC項目的全球獨家許 可。根據該協議條款，百奧賽圖將有權獲得選擇權首付款；在育世博行使相關選 擇權後，百奧賽圖還可獲得包括選擇權行使費、開發和監管里程碑付款、商業化 里程碑付款以及未來產品銷售分成在內的後續款項。 該 ...

Group 1 - The stock of Baiaosaitu-B (02315) increased nearly 10% during trading, reaching a new high of 39.46 HKD, and is currently up 7.86% at 38.72 HKD with a trading volume of 17.64 million HKD [1] - On January 9, Baiaosaitu announced a collaboration with Yushibo to establish an option and licensing agreement aimed at systematically evaluating the bispecific antibody-drug conjugate (BsADC) projects, thereby accelerating the development of the BsAD2C [1] - The agreement grants Yushibo an option for global exclusive licensing of two BsADC projects from Baiaosaitu, which will also receive an upfront payment, milestone payments, and revenue sharing upon exercise of the option [1] Group 2 - According to a recent report by Cinda Securities, Baiaosaitu's model animal sales and preclinical pharmacological evaluation businesses are experiencing rapid growth [2] - Baiaosaitu's business model is relatively unique compared to peers, focusing on high-margin humanized mouse strains and not offering low-margin standard strains, leading to high utilization of cage resources and the ability to expand internationally [2]

Group 1 - The core viewpoint of the article highlights that Baiaosaitu-B (02315) experienced a significant stock price increase, reaching a new high of 39.46 HKD, with a current increase of 7.86% at 38.72 HKD and a trading volume of 17.64 million HKD [1] - On January 9, Baiaosaitu announced a licensing agreement with Yushibo to systematically evaluate the BsADC projects, aiming to accelerate the development of BsAD2C [1] - The agreement grants Yushibo an option for exclusive global licensing of two BsADC projects from Baiaosaitu, which will receive an upfront payment and subsequent payments upon the exercise of the option, including milestone payments and revenue sharing [1] Group 2 - According to recent research from Cinda Securities, Baiaosaitu's business model, which includes sales of model animals and preclinical pharmacological evaluations, is experiencing rapid growth [1] - Compared to peers, Baiaosaitu's business model is unique, focusing on high-margin humanized mouse strains and avoiding low-margin standard strains, leading to high utilization of cage resources and international expansion capabilities [1]

Group 1 - The core viewpoint of the article highlights that Baiaoshaitu-B (02315) experienced a significant intraday increase of nearly 10%, reaching a new high of 39.46 HKD, and is currently trading at 38.72 HKD with a transaction volume of 17.64 million HKD [1] - On January 9, Baiaoshaitu announced a licensing agreement with Yushibo to systematically evaluate the BsADC project through a structured assessment mechanism, aiming to accelerate the development of the BsAD2C [1] - The agreement grants Yushibo an option for global exclusive licensing of two BsADC projects from Baiaoshaitu, which will also receive an upfront payment and subsequent payments upon the exercise of the option, including milestone payments and revenue sharing [1] Group 2 - According to a recent report by Cinda Securities, Baiaoshaitu's sales of model animals and preclinical pharmacological evaluation business are developing synergistically and are currently in a high growth phase [1] - Compared to industry peers, Baiaoshaitu's business model is relatively unique, focusing on high-margin humanized mouse strains and not offering low-margin standard strains, leading to high utilization of cage resources and the capability to expand internationally [1]