HK Stock Market Move | IMMUNEONCO-B(01541) rose nearly 4% in the afternoon, the company announced its new drug product development strategy, and recently received further payment from SYNBIOTX.

IMMUNEONCO-B(01541) rose nearly 4% in the afternoon, as of the time of writing, it rose 2.99% to HK$5.16 with a turnover of HK$58.86 million. On the news front, IMMUNEONCO announced a global registration strategy in collaboration with Instil for the dual-specificity antibody IMM2510/SYN-2510 targeting PD-L1xVEGF in combination with chemotherapy for first-line treatment of non-small cell lung cancer (NSCLC) and triple-negative breast cancer (TNBC). Following potential positive concept validation data, the company and Instil may initiate a global joint chemotherapy randomized phase 3 combination trial for first-line non-squamous and squamous NSCLC and/or first-line TNBC treatment. It is worth noting that IMMUNEONCO recently announced that, according to the licensing and collaboration agreement with Instil Bio's wholly-owned subsidiary SYNBIOTX regarding IMM2510 and IMM27M, the company has received a recent payment of $5 million from SynBioTx and has received a total payment of $15 million. The company expects to receive up to an additional $35 million in future potential payments. It is reported that IMMUNEONCO is one of the few innovative drug companies with pipeline targeting three targets: PD-(L)1, VEGF, and CTLA-4 at the same time.