The Zhitong Finance App learned that Quanxin Biotech B (02509) rose more than 3%. As of press release, it had risen 3.48% to HK$20.8, with a turnover of HK$1.0786 million.

According to the news, Quanxin Biotech recently announced that it has once again joined forces with Huadong Huadong, a wholly-owned subsidiary of Huadong Pharmaceutical, and the two sides have signed a cooperative development and marketing service agreement for the QX005N (recombinant humanized IL-4Rα monoclonal antibody) injection independently developed by Quanxin Biotech. Based on this cooperation, China and US Huadong will participate deeply in the subsequent clinical development of QX005N injections in authorized regions (mainland China, Hong Kong, Macau and Taiwan) and bear 50% of phase III clinical development and subsequent registration fees for related indications; at the same time, China and US Huadong will obtain exclusive marketing options for QX005N injections within the authorized regions.

The announcement stated that it is in the Group's best interest to cooperate with a large pharmaceutical company with strong development and commercialization capabilities and sufficient clinical resources across the country to accelerate the development of target products. This move is also in line with industry practices and brings commercial benefits to the Group, because cooperation with China and East China will help the target product fully expand multiple indications and release product value; accelerate the development progress of the current phase III clinical trial of the target product; and bring more financial support to the group.