智通财经网·2026-01-13 01:32Core Viewpoint - Rongchang Biologics (09995) has signed an exclusive licensing agreement with AbbVie for its novel PD-1/VEGF bispecific antibody drug RC148, which is expected to significantly enhance its financial position through substantial upfront and milestone payments [1] Group 1: Financial Impact - Rongchang Biologics' stock opened nearly 9% higher and is currently up 8.84%, trading at HKD 101, with a transaction volume of HKD 45.5 million [1] - The agreement includes an upfront payment of USD 650 million and potential milestone payments up to USD 4.95 billion, contingent on certain conditions [1] - The company will also receive tiered royalties on net sales outside Greater China, which are expected to be in double digits [1] Group 2: Product Details - RC148 is designed to activate anti-tumor immune responses while inhibiting tumor-driven angiogenesis by simultaneously targeting and suppressing the PD-1 and VEGF pathways [1] - Clinical studies for RC148 as a monotherapy and in combination therapies for various advanced malignant solid tumors are currently underway in China [1]