Sino Biopharmaceutical rises most in nearly 5 weeks on LaNova deal

Sino Biopharmaceutical

20/11/2024 04:35

** Sino Biopharmaceutical  1177.HK  rises 4.3% to HK$3.41;
set for biggest one-day pct gain since Oct. 18
    ** Co buys 4.91% stake in LaNova Medicines for 142 mln yuan
($19.6 mln), enters into agreement for LM-108, a monoclonal
antibody for various solid tumour treatment currently at Phase
II clinical stage, in Mainland China region
    ** Says further cooperations with LaNova for various
innovative bispecific antibody and antibody-drug conjugates in
its pipelines
    ** Hong Kong's healthcare index  .HSCIH  up 2.9%
    ** Stock down 5.8% YTD
($1 = 7.2418 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))