HBM Gets Health Boost From Drug Licensing Deals

deliormanli As China’s pharmaceutical sector battles through tough times, some biotechs are still managing to push ahead with novel drugs and make money along the way. HBM Holdings Ltd. (OTCPK:HBMHF) (2142.HK), for one, has found strength in numbers, striking drug development agreements with a host of prominent partners. On Friday came news of another licensing-out deal, under which HBM subsidiary Nona Biosciences gets an initial $53 million and milestone payments of up to $1.05 billion from Seagen Inc., owned by global pharmaceutical giant Pfizer (PFE). Under the deal, Seagen (SGEN) will develop an antibody-drug conjugate (ADC) created by Nona Biosciences…