HK Stock Market Move | XTALPI (02228) opens over 5% higher after entering an AI-driven drug discovery collaboration with Pierre Fabre Group

XTALPI (02228) opened more than 5% higher, up 5.31% as of press time at HK$6.45, with turnover of HK$3.5332 million. On the news front, XtalPi announced this morning that on November 6, the company and Pierre Fabre Group announced a collaboration agreement. The two parties will jointly carry out multiple R&D projects in the oncology field to jointly discover novel clinical candidate drugs, with potential expansion into areas such as dermatology and rare diseases. Under the agreement, XtalPi will leverage its integrated "AI + Siasun Robot & Automation" core capabilities to de novo design and deliver novel small-molecule therapeutic drugs against undisclosed targets. Pierre Fabre Group will leverage its experience in disease biology, drug discovery, translational research and clinical development to screen and advance the most promising compounds, and will be responsible for subsequent clinical and commercial development. The agreement includes an upfront payment, multiple milestone payments and subsequent revenue sharing; specific financial terms were not disclosed.