DUALITYBIO-B (09606) saw its share price climb nearly 6% during the morning trading session. As of the latest update, the stock was up 5.78% at HK$206.80, with trading turnover reaching HK$108 million.

The biotech firm has entered into a collaboration and license agreement with Genentech, a member of the Roche Group. Under the deal, DUALITYBIO-B will leverage its DUPAC platform to develop next-generation antibody-drug conjugates (ADCs) targeting multiple oncology indications.

In this partnership, DUALITYBIO-B will spearhead the discovery and early-stage global clinical development of the collaborative programs. Following the completion of Phase 1a clinical trials, Genentech will obtain an exclusive worldwide license to the ADCs developed from the collaboration, and will assume full responsibility for further clinical development and commercialization efforts.

Per the terms of the agreement, DUALITYBIO-B will receive an upfront payment of $45 million. Additionally, the company is eligible to receive milestone payments totaling over $1 billion across all collaborative programs, tied to development, regulatory, and commercial achievements. Furthermore, DUALITYBIO-B will be entitled to tiered royalties based on annual net sales of any approved products resulting from the partnership.