INSILICO (03696) rose nearly 15% in morning trading, hitting a high of HK$54, representing an increase of over 124% from its IPO price of HK$24.05. As of writing, the stock was up 14.89% at HK$54, with a turnover of HK$92.17 million.
The company announced that it has completed the first subject dosing in a Phase IIa clinical trial named BETHESDA for its innovative PHD inhibitor, ISM5411. This novel candidate drug, which was developed with the assistance of the group's proprietary generative AI platform Pharma.AI, is a gut-restricted therapy intended for the treatment of Inflammatory Bowel Disease (IBD), and its generic name, Garutadustat, was recently officially approved by the United States Adopted Names (USAN) Council.
Notably, on January 5, INSILICO announced that it had entered into a multi-year anti-cancer drug research collaboration with Servier. According to the announcement, the total potential value of the collaboration is $888 million. INSILICO is eligible to receive up to $32 million in an upfront payment and near-term research and development milestone payments. INSILICO will utilize its self-developed AI platform, Pharma.AI, to focus on challenging targets in the oncology field to identify and develop novel therapeutic agents. Servier will share the R&D costs and lead the subsequent clinical validation and commercialization process.
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