BUZZ-RemeGen's HK shares climb to 3-1/2-year high on Santen's licence deal

Reuters

Aug 19

BUZZ-RemeGen's HK shares climb to 3-1/2-year high on Santen's licence deal

** Hong Kong-listed shares of RemeGen Co 9995.HK rise 5.3% to HK$84.65, their highest point since December 2021, and on course for second session of gains

** Shanghai-listed stock 688331.SS climbs 5.6% to 83.93 yuan, their highest level since February 2023

** RemeGen says it has granted Santen Pharmaceutical Co's 4536.T unit Santen Pharmaceutical (China) the exclusive rights to develop, manufacture and commercialize the company's RC28-E Injection in Greater China, South Korea, Thailand, Vietnam, Singapore, the Philippines, Indonesia and Malaysia

** Company shall receive from Santen China an upfront payment of 250 million yuan ($34.79 million), development and regulatory milestone payments of up to 520 million yuan, and sales milestone payments of up to 525 million yuan

** RemeGen says it will also receive tiered sales royalties ranging from high single-digit to double-digit percentages based on product sales within the licensed territories

** RemeGen's developed RC28-E Injection is a drug for ocular neovascular diseases

** YTD, Hong Kong stock up 483.3%, Shanghai shares up 172.7%

($1 = 7.1858 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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10:49</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-RemeGen's HK shares climb to 3-1/2-year high on Santen's licence deal   </title></head><body><p>** Hong Kong-listed shares of RemeGen Co <span>9995.HK</span> rise 5.3% to HK$84.65, their highest point since December 2021, and on course for second session of gains</p><p>** Shanghai-listed stock <span>688331.SS</span> climbs 5.6% to 83.93 yuan, their highest level since February 2023    </p><p>** RemeGen says it has granted Santen Pharmaceutical Co's <span>4536.T</span> unit Santen Pharmaceutical (China) the exclusive rights to develop, manufacture and commercialize the company's <span>RC28-E Injection</span> in Greater China, South Korea, Thailand, Vietnam, Singapore, the Philippines, Indonesia and Malaysia </p><p>** Company shall receive from Santen China an upfront payment of 250 million yuan ($34.79 million), development and regulatory milestone payments of up 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