ALEBUND-B (09637) shares surged more than 6% in Hong Kong trading, reaching HK$29.06 by the time of writing, up 6.68%, with a turnover of HK$4.6856 million.

According to a recent update from the company's official social media, ALEBUND-B announced that the global Phase IIb multicenter clinical trial (NCT06712654) for its first-in-class oral pan-phosphate transporter inhibitor, AP306, has achieved the first patient randomized enrollment and dosing. This study targets hyperphosphatemia in patients undergoing maintenance hemodialysis.

The trial is being conducted across multiple clinical sites in both the United States and China, co-sponsored by ALEBUND-B and R1 Therapeutics, Inc. ("R1"). AP306 (formerly known as EOS789) is a first-in-class oral pan-phosphate transporter inhibitor. It was originally discovered by Chugai Pharmaceutical Co., Ltd., and ALEBUND-B has obtained an exclusive license to develop, manufacture, and commercialize it globally.

Unlike traditional phosphate binders that mainly bind to free phosphate in the gut, AP306 works by broadly inhibiting three key intestinal phosphate transporters—NaPi-IIb, PiT-1, and PiT-2—thereby reducing the active transport of phosphate from the gut. This offers a differentiated therapeutic pathway for managing hyperphosphatemia. The successful randomization and dosing of the first patient marks a new phase in the global development of AP306, advancing into a multi-center clinical implementation across China and the United States.