6 Mar 2024 CMB International Global Markets | Equity Research | Company Initiation Kelun-Biotech (6990 HK) ` A trailblazer in ADC arena BUY (Initiation) Target Price HK$152.26  Kelun-Biotech, a trailblazer in biotech innovation, boasts a diverse ADC Up/Downside 30.4% pipeline with strategic backing from MSD. Leveraging a robust integrated ADC Current Price HK$116.80 platform, the company has developed several differentiated clinical-stage ADCs - including SKB264 (TROP2 ADC), A166 (HER2 ADC), SKB315 (CLDN18 ...