Alphamab Oncology Extends Suzhou Lease Agreement

Alphamab Oncology (HK:9966) has released an update.

Alphamab Oncology has announced the extension of their lease agreement for biologics manufacturing and storage facilities in Suzhou, China. The renewed lease with Suzhou Alphamab will commence on September 1, 2024, and conclude at the end of December 2024, with a monthly rental fee of RMB 838,900. This transaction, which is in line with market rates and conditions, will be recorded as a right-of-use asset in the company’s financial statements in accordance with IFRS 16.

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