HK Stock Market Move | Biocytogen Pharmaceuticals-B (02315) rose nearly 10% during trading hours, pushing its stock price to a new high since listing. It has reached further cooperation with Yucera.

Biocytogen Pharmaceuticals-B(02315) rose nearly 10% in midday trading, reaching a high of HK$39.46, setting a new record high. As of the time of writing, it has risen by 7.86% to HK$38.72, with a trading volume of 17.6436 million Hong Kong dollars. On the news front, on January 9, Biocytogen Pharmaceuticals announced a rights and licensing agreement with Yushibo, aiming to accelerate the development of the Bispecific Antibody-Drug Conjugate (BsADC) project through a structured evaluation mechanism. The agreement will grant Yushibo an option to obtain global exclusive licenses for two BsADC projects from Biocytogen Pharmaceuticals. Biocytogen Pharmaceuticals will receive an initial payment for this option; and following the exercise of the option by Yushibo, Biocytogen Pharmaceuticals may receive subsequent payments including option exercise fees, development and regulatory milestone payments, commercial milestone payments, and sales royalties. The specific financial terms of the agreement have not been disclosed. A recent research report from Cinda stated that overall, Biocytogen Pharmaceuticals' model of combining animal model sales with preclinical pharmacology and efficacy evaluation services is currently in a high growth phase. Compared to industry peers, Biocytogen Pharmaceuticals' business model is relatively unique, focusing on high-margin targeted humanized mouse strains rather than low-margin general strains, resulting in a high utilization rate of animal facility resources and possessing the ability to expand internationally.