HK Stock Market Move | PEGBIO CO-B(02565) rose more than 20% to hit a new high at the close. Recently granted exclusive license for diabetes drugs in the Middle East and Africa.

PEGBIO CO-B(02565) rose more than 20% at the end of the day, reaching a high of 62.25 Hong Kong dollars, setting a new record high. As of the time of publication, it rose by 16.51%, to 60.3 Hong Kong dollars, with a trading volume of 30.2346 million Hong Kong dollars. On the news front, Pegbio Pharmaceuticals recently announced a strategic partnership with leading medical research institution PDC FZ-LLC in the UAE, granting exclusive rights to develop, distribute, market, and commercialize Pegbio's core product, Visepegenatide (PB-119), in the Middle East and Africa region. This collaboration marks a key step in Pegbio's global commercialization strategy. Visepegenatide (PB-119) is a weekly subcutaneous injection of GLP-1 receptor agonist developed by Pegbio for the treatment of type 2 diabetes and weight management. According to data from the International Diabetes Federation, the prevalence of diabetes in adults in the Middle East and North Africa is as high as 16.2%, ranking the highest globally. This collaboration is expected to accelerate the adoption of Visepegenatide (PB-119), offering innovative treatment to many underserved patients in the region.