HBM Holdings reports profit, boosts innovation, and expands collaborations

HBM Holdings (HKEX: 2142) reported a profit of USD 2.7 million for 2024, a turnaround from previous years, driven by recurring revenue growth from USD 5.7 million to USD 16.9 million. The company strategically expanded into immunology, advancing eight assets from preclinical to late clinical stages, and out-licensed internally discovered molecules. Collaborations included a global license agreement with AstraZeneca, potentially worth USD 575 million in milestone payments plus royalties, and a research collaboration with Candid Therapeutics, valued up to USD 320 million. Nona Biosciences, HBM's subsidiary, focused on innovative antibody and biotherapeutic solutions, leveraging Harbour Mice technology. Looking ahead to 2025, HBM aims to advance clinical trials and expand collaborations with top-tier institutions, supported by a share subscription agreement with AstraZeneca for approximately USD 105.3 million. The company also proposed no dividend for the year, maintaining a focus on reinvestment in research and development.