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Harbour BioMed Acquires Stake in US Firm Spruce Biosciences

1/21/2026

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Summary

Story summary

Harbour BioMed, a Shanghai-based company, has acquired a stake in Spruce Biosciences, a US-based firm.
The deal was announced in a Hong Kong stock exchange filing, signaling a shift toward equity partnerships.
Analysts, including Celia Deng of SAI MedPartners, predict more Chinese biotech firms will pursue joint developments rather than out-licensing.
Harbour BioMed now holds about 3.8% of Spruce's outstanding shares after a licensing agreement for SPR202.

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Story summary

Harbour BioMed, a Shanghai-based company, has acquired a stake in Spruce Biosciences, a US-based firm.
The deal was announced in a Hong Kong stock exchange filing, signaling a shift toward equity partnerships.
Analysts, including Celia Deng of SAI MedPartners, predict more Chinese biotech firms will pursue joint developments rather than out-licensing.
Harbour BioMed now holds about 3.8% of Spruce's outstanding shares after a licensing agreement for SPR202.