Zhi Tong Cai Jing·2026-01-13 01:33Core Viewpoint - Rongchang Biologics (09995) experienced a significant stock increase of nearly 9%, closing at 101 HKD, following the announcement of an exclusive licensing agreement with AbbVie for its novel PD-1/VEGF bispecific antibody drug RC148 [1] Group 1: Licensing Agreement Details - On January 12, Rongchang Biologics announced an exclusive licensing agreement with AbbVie for RC148, granting AbbVie exclusive rights for development, production, and commercialization outside Greater China [1] - Rongchang Biologics will receive an upfront payment of 650 million USD and is eligible for up to 4.95 billion USD in milestone payments related to development, regulatory, and commercialization achievements, along with double-digit royalties on net sales outside Greater China [1] - The milestone payments are contingent upon certain conditions, indicating uncertainty regarding the total achievable milestone payment amount [1] Group 2: Product Information - RC148 is a novel bispecific antibody designed to target PD-1 and VEGF pathways, aiming to activate anti-tumor immune responses while inhibiting tumor-driven angiogenesis [1] - The drug is currently undergoing clinical studies in China for treating various advanced malignant solid tumors, both as a monotherapy and in combination therapies [1]