HK Stock Market Move | CSTONE PHARMA-B (02616) rises nearly 4% on clinical development collaboration with Kimia to jointly advance a drug with first-in-class potential.

CSTONE PHARMA-B (02616) rose nearly 4% intraday, up 2.37% as of press time at HK$4.96, with turnover of HK$8.2549 million. On the news front, on November 4, CSTONE PHARMA-B announced that the company has entered into a collaboration with Kimia Therapeutics, Inc. ("Kimia"), a biopharmaceutical company focused on the research and development of innovative oncology and immunology drugs. The two parties will jointly advance the clinical development of a solid tumor candidate drug with first-in-class potential that targets a key DNA damage response (DDR) pathway for solid tumor survival. CStone Pharma will lead the clinical development of the candidate drug in mainland China and Australia. CStone Pharma will share in the global commercialization value of this first-in-class drug through milestone payments and sales royalties. According to the introduction, Kimia is headquartered in Berkeley, California, and leverages its self-developed integrated ATLAS platform to enable AI-powered drug discovery and develop small molecule drugs. Kimia is a portfolio company of renowned life sciences investment firm The Column Group (TCG). TCG focuses on incubating and investing in biotechnology companies, covering the full development cycle from early-stage scientific innovation and clinical development to strategic transactions.