Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H (HK:6990) has released an update.
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Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. has received approval for clinical trials of their novel drug SKB571, targeting solid tumors like lung and gastrointestinal cancers. The company has also secured a $37.5 million payment from Merck & Co., with potential for additional milestone payments and royalties, while retaining commercialization rights in China, Hong Kong, and Macau. Investors are advised to exercise caution as the drug may not ultimately succeed in development and commercialization.
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