Changes in Hong Kong stocks | Hebo Pharmaceutical-B (02142) fell more than 10% in the intraday period, Pfizer announced the termination of all research and development of Hebo's ADC drug SGN-Mesoc2

The Zhitong Finance App learned that Hebo Pharmaceutical-B (02142) fell more than 10% in the intraday period. As of press release, it fell 6.86% to HK$11.68, with a turnover of HK$447.27,500.

According to the news, on July 16, Pfizer announced the termination of all development of the mesothelin ADC drug SGN-Mesoc2 authorized by Hebo Pharmaceutical/Nona Biotech. A Pfizer spokesperson said that the termination decision was based solely on business-level considerations, and the company plans to concentrate resources on ongoing research projects that are more likely to bring clinical benefits to patients.

According to public information, at the end of 2023, Pfizer and Hebo Pharmaceuticals reached an exclusive global licensing agreement: pay a down payment of 53 million US dollars and recent payments to take over the global development and commercialization rights of SGN-MesoC2. The total potential value of the cooperation can reach up to 1.13 billion US dollars. Analysts pointed out that the down payment is only the starting point for overseas cooperation, and whether subsequent large milestones can be achieved is highly dependent on the long-term R&D strategy of the introducing party.