Harbour BioMed announced its wholly owned subsidiary has exercised a warrant agreement to acquire common stock in Spruce Biosciences. As a result of the transaction, Harbour BioMed holds approximately 3.8% of Spruce’s total outstanding shares (3.1% of fully diluted shares of Spruce).

Harbour BioMed’s current focus is the discovery and development of novel antibody therapeutics in immunology and oncology.

Background on Stock Agreement

Previously, the warrant had been issued to the wholly owned subsidiary and other minority shareholders of HBM Alpha Therapeutics (HBMAT). That is a biotechnology company incubated by Harbour BioMed.

An existing license and collaboration agreement between HBMAT and Spruce aims to advance development of SPR202. That candidate was formerly known, by Harbour BioMed, as HBM9013. SPR202 is a potent, selective anti-corticotropin-releasing hormone monoclonal antibody. It aims to address various disorders, among them congenital adrenal hyperplasia.

“This warrant exercise marks a significant milestone in our relationship with Spruce Biosciences,” said Jingsong Wang, MD, PhD, Founder, Chairman, and CEO of Harbour BioMed. “It moves us beyond a traditional licensor-licensee relationship to a truly aligned strategic partnership.”

Harbour’s Partnerships Outside of Spruce

Harbour BioMed has been busy forming alliances in the past year. Earlier in January 2026, it agreed with Yantai Lannacheng Biotechnology Co. to jointly advance development of next-generation radionuclide drug conjugates.

A collaboration with Bristol Myers Squibb to discover and develop next-generation multi-specific antibodies was agreed to in December 2025, while a pact with Evinova concerning AI usage was reached in November.

In the summer of 2025, Harbour BioMed announced a partnership with Otsuka Pharmaceutical Co. to advance BCMAxCD3 bispecific T-cell engagers for treatment of autoimmune diseases.

Harbour also launched Élancé Therapeutics, in March 2025, and reached another AI agreement, with Insilico, in February.