Recent data from the Hong Kong Stock Exchange reveals a notable change in the shareholding position of MIRXES-B (02629) as of June 3. The total value of shares held in custody is HK$628 million, representing 16.97% of the relevant holdings.
In this activity, a shareholder of the company deposited 50.6082 million shares with Standard Chartered Bank (Hong Kong), increasing the proportion of shares held there by 16.97%.
This development follows a recent announcement by the company regarding a strategic initiative. MIRXES-B has entered into a memorandum of understanding with Apollo Health and Lifestyle Limited, a wholly-owned subsidiary of Apollo Hospitals Enterprise Limited. The agreement seeks a strategic collaboration to jointly develop and commercialize advanced early cancer detection solutions in India and neighboring countries.
Subject to achieving agreed objectives and receiving approval from the respective boards of directors, the parties anticipate establishing a joint venture in India. The venture is expected to have an equity value of no less than US$50 million, based on the intellectual property, clinical pipeline, research and development capabilities, clinical trial infrastructure, and commercial channels to be contributed by both MIRXES-B and Apollo.
The collaboration aims to combine MIRXES-B's breakthrough miRNA and multi-omics technologies, its core products GASTROClear and LUNGClear, and its maturing clinical pipeline—which includes programs for colorectal, liver, and breast cancer, as well as the CADENCE multi-cancer test—with Apollo's extensive clinical expertise, nationwide hospital network, and community healthcare service capabilities.
The overarching goal of this partnership is the early detection of cancer, enabling intervention at a curable stage and thereby transforming treatment outcomes for millions of patients. The initiative is designed to achieve large-scale commercialization and market adoption of these solutions, consequently expanding access to early disease screening in the region.
The company's board of directors views the proposed strategic cooperation with Apollo as a significant synergistic opportunity that aligns with the group's long-term strategic objectives. The collaboration is intended to leverage Apollo's vast hospital network and substantial patient base to promote the widespread use of the group's early cancer detection solutions.
This effort is seen as a way to address existing gaps in India's healthcare system, particularly in the areas of early detection and disease screening. The board further believes that this cooperation can serve as an extensible platform for the group's future business expansion in India, facilitating earlier clinical interventions and improving patient outcomes.