Sasol Limited shares rise 2.89% intraday after Royalty Pharma and Zenas BioPharma announced a $300 million funding deal for obexelimab.

Sasol Limited rose 2.89% during intraday trading, following the announcement that Royalty Pharma will provide up to $300 million in funding to Zenas BioPharma for the development of obexelimab, a treatment for IgG4-Related Disease. The funding includes an initial $75 million for the potential U.S. commercial launch and an additional $150 million contingent on the results of the Phase 3 INDIGO trial and FDA approval. This partnership is expected to drive growth and innovation in the treatment of autoimmune diseases.