HK Stock Market Move | INSILICO (03696) opened more than 4% higher, receiving a payment of approximately 39 million Hong Kong dollars from Mainarini for the New Journey Health Technology Group milestone.

INSILICO (03696) opened more than 4% higher, rising 4.56% to 63 Hong Kong dollars with a trading volume of 1.323 million Hong Kong dollars at the time of publication. On the news front, on February 3, INSILICO announced that its MEN2501 project licensed to Menarini Group (Menarini) has completed the first patient dosing in Phase I clinical trial. According to the cooperation agreement, INSILICO will receive a milestone payment of approximately 39 million Hong Kong dollars from Menarini. MEN2501 (formerly known as ISM9682) is a highly differentiated small molecule inhibitor targeting the driver protein KIF18A, with preclinical data showing significant inhibitory activity against chromosomal instability cancers. Previously, as part of a strategic collaboration aimed at accelerating the development of transformative anti-tumor therapies, INSILICO has licensed the MEN2501 project to Menarini's wholly-owned subsidiary, Stemline Therapeutics Inc., for a total collaboration amount of $550 million (equivalent to approximately 4.29 billion Hong Kong dollars).