Shanghai-based Harbour BioMed Deepens US Partnership

Shanghai-based Harbour BioMed (stock sticker: 2142.HK) has taken an equity stake in US biotech firm Spruce Biosciences, signaling a shift by Chinese drug developers toward deeper strategic partnerships beyond one-off licensing deals. According to a comopany filing with the Hong Kong Stock Exchange, Harbour exercised warrants granted under a prior licensing agreement, acquiring approximately a 3.8% stake in Spruce.

The warrants were issued when Harbour's subsidiary, HBM Alpha Therapeutics, entered into a licensing agreement last year that granted Spruce the rights to develop and commercialize Harbour's early-stage therapy for rare hormone disorders. Harbour founder and chief executive Wang Jingsong said the move represents "a significant milestone," marking a transition from a conventional licensor-licensee relationship to a more strategic partnership.