Jin Rong Jie·2025-07-31 01:59Core Viewpoint - China Biopharmaceutical (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 licensing collaboration with Merck regarding the dual antibody LM-299/MK-2010 [1] Group 1: Financial Developments - The company is set to receive a milestone payment of USD 300 million for technology transfer related to LM-299, expected to be confirmed in the third quarter [1] - In 2024, a global exclusive licensing agreement was established between the company's subsidiary, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd., and Merck, which includes an upfront payment of USD 588 million and potential milestone payments up to USD 2.7 billion [1] Group 2: Project Progress - Merck disclosed during its Q2 earnings call that the technology transfer for LM-299 was completed in July and is progressing as planned [1]