HK Stock Market Move | INSILICO (03696) rose nearly 5% during the day and announced a cooperation agreement with Hengtai Biotech worth over 500 million Hong Kong dollars.

INSILICO (03696) rose nearly 5% during trading hours, and as of press time, it has risen 3.84% to HK$54.05, with a trading volume of HK$202.53 million. On the news front, on January 20th, INSILICO and Shenzhen Hengtai Biotechnology Co., Ltd. jointly announced that they have reached a collaborative development agreement for the ISM8969 project. Under this strategic partnership, both parties will jointly accelerate the global development of ISM8969, a novel NLRP3 inhibitor with oral and blood-brain barrier penetrating properties intended for the treatment of central nervous system diseases. According to the agreement, INSILICO will grant Hengtai Biotechnology a 50% right to conduct research, development, registration, production, and commercialization of ISM8969 globally. At the same time, INSILICO has the right to receive up to over HK$500 million in upfront and milestone payments, including an upfront payment of HK$78 million expected to be paid within 30 days of the effective date of the agreement. To demonstrate their mutual commitment to the project, INSILICO will lead the early clinical development of ISM8969, including completing the new drug clinical trial application and conducting a Phase I clinical trial for Parkinson's disease indication.