Changes in Hong Kong stocks | Cornerstone Pharmaceutical-B (02616) rose nearly 4% and reached a clinical development cooperation with Kimia to jointly promote a drug with similar pioneering potential

The Zhitong Finance App learned that Cornerstone Pharmaceutical-B (02616) rose nearly 4% in the intraday period. As of press release, it had risen 2.37% to HK$4.96, with a turnover of 8.254,900.

According to the news, on November 4, Cornerstone Pharmaceutical-B announced that the company has reached a cooperation with Kimia Therapeutics, Inc. (“Kimia”), a biopharmaceutical company focusing on the development of innovative oncology and immunology drugs. The two sides will jointly advance the clinical development of a solid tumor drug candidate with similar pioneering potential and targeting the DNA damage response (DDR) pathway critical to solid tumor survival. Cornerstone Pharmaceuticals will lead the clinical development of this candidate in mainland China and Australia. Cornerstone Pharmaceuticals will share the global commercialization value of this first-of-its-kind drug through milestone payments and sales shares.

According to reports, Kimia is headquartered in Berkeley, California, and relies on its self-developed integrated ATLAS platform to enable drug discovery and development of small molecule drugs with AI. Kimia is a portfolio company of The Column Group (TCG), a well-known life sciences investment institution. TCG focuses on incubating and investing in biotechnology companies, covering the entire development cycle from early scientific innovation and clinical development to strategic transactions.