BUZZ-Insilico hits fresh high on milestone payment from Menarini Group

Reuters02-03

** Shares of biotech group InSilico Medicine Cayman TopCo 3696.HK jump 14% to HK$68.7, fresh high since December 30 debut

** Stock on track for biggest daily gain since Jan 12; snapping 2-day decline

** InSilico receives HK$39 mln (about $5 mln) milestone payment from Menarini Group after first-in-patient dosing in Phase I trial of cancer drug MEN2501

** Total licensing deal with Menarini's Stemline Therapeutics Inc exceeds $550 mln value

** Stock has soared 186% from HK$24.05 IPO price in just over 3 weeks

** YTD, stock is up 82.3%, Hang Seng Biotech Index .HSBIO up 5.3%

($1 = 7.8124 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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