HK Stock Market Move | QYUNS-B(02509) rose more than 11% during trading. Its subsidiary QX031N has authorized Roche. Institutions claim that this transaction has a certain level of scarcity.

QYUNS-B (02509) rose more than 11% during the trading session, as of the time of publication, it was up 4.78% at 22.82 Hong Kong dollars, with a turnover of 1229.38 million Hong Kong dollars. On the news front, on October 28th, Quansheng Biology announced a global exclusive collaboration and licensing agreement with Roche for its independently developed long-acting dual-target QX031N for self-immune therapy. According to the agreement, Roche will be granted global exclusive rights to research, develop, register, produce, and commercialize QX031N. Quansheng Biology will receive an upfront payment of $75 million, as well as up to $995 million in milestone payments and gradient royalty fees for potential future product sales. It is reported that QX031N injection is a long-acting dual-target that simultaneously targets TSLP and IL-33. China Post Securities pointed out that QX031N belongs to the preclinical pipeline and has not yet entered the clinical stage, but has already reached a high upfront payment agreement with MNC. We believe that this is an endorsement of the company's early research and innovation capabilities, as well as recognition of the potential market and target selection in the field of respiratory self-immune therapy. In terms of the amount and cooperation partner, this transaction has a certain degree of scarcity. The clinical value of QX031N is not inferior to the TL1A dual-target in the IBD field, and it also means that this target combination has a leading position and market potential globally.