Ab&B Bio-Tech (HKG:2627) said it has entered into a cooperation agreement with Walvax Hong Kong to expand overseas markets for its subunit influenza vaccine, according to a March 13 Hong Kong bourse filing.

Shares of the biotech firm were down more than 13% in Monday morning trade.

The companies will cooperate on overseas registration, sales, and commercialization of the group's products, with the trivalent subunit influenza vaccine Huierkangxin 3 as the core product for international expansion.

The partnership will leverage Walvax Hong Kong's overseas market resources and distribution networks to accelerate expansion into Southeast Asia, Latin America, the Middle East, and other Southern Hemisphere markets.