HK Stock Market Move | JUNSHI BIO (01877) rose nearly 35% in the final trading session. The company had previously raised over 1 billion for research and development of PD-1/VEGF bispecific antibodies, among other projects.

Sinolink released a research report stating that the global enthusiasm for dual-target therapeutics development is on the rise, and the domestic antibody industry has entered a window of opportunity for realizing innovative achievements. The bank stated that JUNSHI BIO has extensive experience in monoclonal antibody development. Its developed PD-1 monoclonal antibody molecule, Tislelizumab, is the earliest domestically marketed PD-1 inhibitor. Currently, Tislelizumab has been marketed for multiple indications in China and continues to expand its global commercialization network, with approvals for market entry in the US and EU markets scheduled for 2023 and 2024. In addition, the company has also developed a series of monoclonal antibody molecules, accumulating rich experience in the field of antibodies. Building on monoclonal antibodies, the company has developed innovative dual-antibody molecules (JS207, JS201, JS203, JS205) and dual-antibody ADC (JS212). It is worth noting that JUNSHI BIO completed a placement of 41 million new shares on June 20, with net proceeds of approximately HK$1.026 billion. The company plans to use 70% of the net proceeds from the placement for innovative drug research and development, such as PD-1/VEGF dual-antibodies, EGFR/HER3 ADCs, PD-1/IL-2 fusion proteins, and other pipeline developments. The remaining 30% will be used for general corporate purposes, including supplementing working capital.