A New-Jersey based biotech company saw its stock soar after it was announced the company entered into an agreement with Janssen pharmaceutica NV (a Johnson & Johnson company), whereby the company has assigned to Janssen exclusive rights to develop and commercialize NBTXR3, an investigational, potential first-in-class radioenhancer, in China, South Korea, Singapore and Thailand.
Shares of LianBio (Nasdaq:LIAN) rallied on the news, with the price hitting $4.78/share (+6.22%) at the session high.
LianBio is a science-driven biopharmaceutical company dedicated to developing and commercializing innovative medicines for patients with unmet medical needs, with an initial focus on in-licensing assets for Greater China and other Asian markets. It is advancing a diversified portfolio of clinically validated product candidates with the potential to drive new standards of care across cardiovascular, oncology, ophthalmology, inflammatory disease and respiratory indications.
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