智通财经网·2025-07-31 01:41Core Viewpoint - China Biologic Products Holdings (01177) experienced a stock increase of over 3%, reaching HKD 7.7 with a trading volume of HKD 100 million, following the announcement of a successful collaboration with Merck on the LM-299/MK-2010 "PD-1/VEGF dual antibody" [1] Group 1 - On July 30, China Biologic announced that its wholly-owned subsidiary, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd., is progressing well in its collaboration with Merck regarding LM-299 [1] - The company is expected to receive a milestone payment of USD 300 million for technology transfer in the near future [1] - Merck disclosed during its Q2 earnings call on July 29 that the technology transfer for LM-299 was completed in July and the milestone payment is anticipated to be confirmed in Q3 [1] Group 2 - In 2024, Lixin Pharmaceutical and Merck reached a global exclusive licensing agreement for LM-299 [1] - According to the agreement, Merck will obtain exclusive rights for global development, production, and commercialization of LM-299 [1] - Lixin Pharmaceutical will receive an upfront payment of USD 588 million, along with potential milestone payments totaling up to USD 2.7 billion [1]