HK Stock Market Move | CSTONE PHARMA-B(02616) rose by over 5% recently, reaching an exclusive commercial collaboration agreement with Arrotex for the commercialization of Avelumab in Australia and New Zealand.

CSTONE PHARMA-B(02616) rose more than 5%, rising 3.85% to HK$4.58 by press time, with a turnover of HK$1.6543 million. On the news front, recently, CSTONE PHARMA-B announced a collaboration with DBG Health's core pharmaceutical commercialization platform, Arrotex Pharmaceuticals Pty Ltd, a leading comprehensive pharmaceutical and health group in Australia. According to the agreement, CSTONE PHARMA-B will receive an upfront payment and additional milestone payments for registration and sales from Arrotex. CSTONE PHARMA-B will be responsible for supplying Arrotex with the drug and receive a share of the revenue in the authorized region. Arrotex will have exclusive commercialization rights for the drug in Australia and New Zealand, covering all approved and potential indications in the future, including stage III and IV non-small cell lung cancer (NSCLC), gastric cancer (GC), esophageal squamous cell carcinoma (ESCC), and extranodal NK/T-cell lymphoma (ENKTL) (some indications are pending approval by the Australian drug regulatory agency). Arrotex will be responsible for the drug's registration and commercialization promotion in the authorized region.