BIOCYTOGEN-B (02315) rose nearly 10% during the trading session, reaching a high of HK$39.46 to set a new record since its listing. As of the time of writing, the stock was up 7.86% at HK$38.72, with a turnover of HK$17.64 million.

On January 9, Biocytogen and Acepodia announced they had entered into an option and license agreement designed to systematically evaluate bispecific antibody-drug conjugate (BsADC) programs through a structured assessment mechanism, thereby further accelerating the development of bispecific antibody dual-drug conjugates (BsAD2C).

The agreement will grant Acepodia an option to obtain global exclusive licenses for two of Biocytogen's BsADC projects. Biocytogen will be entitled to receive an upfront option payment; if Acepodia exercises the relevant option, Biocytogen can also receive subsequent payments, including an option exercise fee, development and regulatory milestone payments, commercial milestone payments, and sales royalties.

The specific financial terms of the agreement have not been disclosed.

A recent research report from Cinda Securities noted that, overall, Biocytogen's model animal sales business and preclinical pharmacology and efficacy evaluation business are developing synergistically and are currently in a phase of rapid growth. Compared to peer companies, Biocytogen's business model is relatively unique; although its portfolio of model resources is not extensive, it focuses on high-margin target-humanized mouse strains, does not provide low-margin ordinary strains, utilizes cage space resources efficiently, and possesses the capability to expand internationally.