Changes in Hong Kong stocks | CSPC Group (01093) rose more than 3% and recently signed a strategic R&D cooperation agreement with Astra Zeneca

The Zhitong Finance App learned that CSPC Group (01093) rose more than 3%. As of press release, it had risen 2.33% to HK$7.9, with a turnover of HK$386 million.

According to the news, recently, CSPC Group announced that it has signed a strategic research and development cooperation agreement with global biopharmaceutical leader Astra Zeneca to discover and develop novel oral small molecule drug candidates using the Group's AI-powered high-efficiency drug discovery platform. The platform uses AI technology to analyze the binding patterns of target proteins and existing compound molecules and perform targeted optimization to select small molecules that are efficient and have excellent development potential.

Under the terms of the agreement, the group agreed to discover preclinical drug candidates (PCC) with potential treatment potential for multiple indication diseases for multiple targets selected by Astra Zeneca, including a preclinical small molecule oral therapy for immune diseases.

For each PCC project, Astra Zeneca will have the right to exercise options to obtain an exclusive license to develop, produce, and commercialize worldwide. The Group will receive $110 million in advance and is entitled to receive up to $1.62 billion in potential R&D milestone payments and up to $3.60 billion in potential sales milestone payments, as well as potential single-digit sales commissions based on the annual net sales of the products concerned.