BUZZ-HK-listed Lepu jumps most in 5 weeks on exclusive deal with ArriVent BioPharma

Hong Kong-listed Lepu Biopharma 2157.HK jumps 14.2% to HK$2.73; set for biggest one-day pct gain since Dec. 17, 2024

Stock hits highest since Dec. 27, 2024; on track for fifth consecutive session of gains

Co grants exclusive global rights to ArriVent BioPharma AVBP.O to develop and commercialize Lepu's novel antibody drug conjugate candidate MRG007, which is used to treat gastrointestinal cancers, outside of Greater China

Lepu will get one-time upfront and near-term milestone payments of $47 mln

Eligible to get up to $1.16 bln in development, regulatory and sales milestones and tiered royalties in high single-digit to low-teen percentages on net sales in Licensed Region

AVBP rose 3.7% on Tuesday

Lepu fell ~38% last year

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))