HK Stock Market Move | 3SBIO (01530) rises over 3% as its subsidiary Sansheng Mandi partners with MindRank to reach an exclusive collaboration for MDR-001.

3SBIO (01530) rose over 3%, up 3.54% as of press time, at HK$32.74, with a turnover of HK$15.4368 million. On the news front, according to 3SBIO's official WeChat account, on September 28, Zhejiang Sansheng Mandi Pharmaceutical Co., Ltd. ("Mandi"), a subsidiary of 3SBIO, and Wansheng Pharmaceutical ("Wansheng") announced that they have entered into an exclusive commercialization collaboration with Hangzhou MindRank Technology Co., Ltd. ("MindRank") for MDR-001, an AI-designed oral small molecule GLP-1 receptor agonist independently developed by MindRank, covering mainland China, Hong Kong, and Macau. MDR-001 is currently undergoing a Phase III pivotal clinical study in China targeting adults with obesity or overweight. Under the agreement, Sansheng Mandi and Wansheng Pharmaceutical will pay MindRank up to RMB 150 million in collaboration rights payments (including upfront payment, regulatory approval, first commercial shipment, and additional indication collaboration rights payments), and up to RMB 1.6 billion in royalty payments upon meeting agreed conditions, with the total potential transaction value not exceeding RMB 1.75 billion.