Shares of BAO PHARMA-B (ASX: 02659) have surged more than 4%. At the time of writing, the stock is up 4.03% to HKD 19.88, with a turnover of HKD 7.918 million.

The recent price movement follows the announcement of successful Phase II clinical trial results for the company's novel IgG degrading enzyme, Ricefidase (KJ103). The findings were presented at the 63rd European Renal Association Congress.

The study, led by Professor Zhao Minghui's team from Peking University First Hospital and sponsored by BAO PHARMA-B, focused on treating anti-GBM disease. Results indicated that combining Ricefidase with standard immunosuppressive therapy achieved rapid and sustained clearance of pathogenic anti-GBM antibodies.

Furthermore, the data suggested potential benefits in several key clinical outcomes, offering a new exploratory treatment direction for this life-threatening rare autoimmune disorder.

KJ103 is described as a first-in-class, low-immunogenic recombinant immunoglobulin G (IgG) degrading enzyme. It is intended for treating various immune diseases mediated by pathogenic IgG antibodies.

The product's mechanism involves specifically cleaving and degrading these pathogenic antibodies in the bloodstream, thereby inhibiting immune response activation. This approach provides a targeted and rapid new therapeutic option for antibody-mediated autoimmune diseases.