HK Stock Market Move | INSILICO (03696) rose nearly 5% in early trading. The company cooperates with Hengtai Biotechnology to jointly develop a new type of NLRP3 inhibitor.

INSILICO (03696) rose nearly 5% in the early session, rising 3.68% as of the time of reporting to 55 Hong Kong dollars, with a turnover of 21.52 million Hong Kong dollars. On the news front, INSILICO recently announced that it has reached a joint development cooperation agreement with Hengtai Biotech on the ISM8969 project. Based on this exclusive strategic partnership, the two parties will jointly accelerate the global development of ISM8969, a new NLRP3 inhibitor that is orally available and capable of penetrating the blood-brain barrier, intended for the treatment of central nervous system diseases. According to the terms of the agreement, INSILICO will grant Hengtai Biotech a 50% right to research, develop, register, produce, and commercialize ISM8969 worldwide. At the same time, INSILICO has the right to receive over 500 million Hong Kong dollars in advance payments and milestone payments, including an estimated 78 million Hong Kong dollars in advance payment to be paid within 30 days of the effective date of the agreement.