Innocare (09969) saw its shares rise more than 5% during the morning session. By the time of writing, the stock was up 3.41%, trading at HK$12.42 with a turnover of HK$54.5545 million. The catalyst for the move came on March 16, when Innocare announced that the first participant had been dosed in a trial of its self-developed VAV1 molecular glue degrader, ICP-538. ICP-538 is a novel, orally administered, highly potent and selective molecular glue degrader targeting VAV1, a key protein downstream of T-cell and B-cell receptors. At present, there are no approved VAV1-targeting drugs available globally.
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