Harbour BioMed Acquires 3.8% of Spruce Biosciences, Enhancing Strategic Partnership
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5h ago
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Source: Newsfilter
- Share Acquisition: Harbour BioMed exercised its warrant through a wholly-owned subsidiary to acquire approximately 3.8% of Spruce Biosciences' outstanding shares, further solidifying its market position in the biopharmaceutical sector.
- Strategic Partnership Upgrade: This transaction marks a shift in the relationship between Harbour BioMed and Spruce from a traditional licensor-licensee model to a true strategic partnership aimed at accelerating the development of transformative therapies for patients worldwide.
- R&D Collaboration: The acquisition is linked to a licensing and collaboration agreement with HBM Alpha Therapeutics, focusing on advancing the development of SPR202, a monoclonal antibody with significant clinical potential for various disorders.
- Technological Platform Advantage: Harbour BioMed leverages its proprietary antibody technology platform, Harbour Mice®, along with HBICE® and HBICATM technologies, to build a highly efficient antibody discovery engine that drives the development of next-generation therapeutic antibodies.
Analyst Views on 02142
Wall Street analysts forecast 02142 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 02142 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
