On June 29, Innovent Biologics rose 3.53% in regular trading, trading at HK$75.2/share, with turnover of HK$253 million. The move was driven by news that its partner Ollin Biosciences completed an oversubscribed $330 million Series B financing round, coupled with broad-based strength across the biotech sector.

The funding will be directed toward advancing core candidate IBI324 (OLN324) in global Phase III clinical development for diabetic macular edema and wet age-related macular degeneration, with studies planned to initiate in the second half of the year. Ollin will collaborate with Innovent to recruit patients in China and South Korea. The successful fundraise underscores market confidence in the pipeline's potential in ophthalmology therapeutics.

At the sector level, biotech stocks broadly rallied, with TransThera-B up 15.49%, Remegen up 3.80%, and Akeso up 1.86%, creating positive sector resonance that further supported Innovent's performance. Multiple brokerages maintain Buy ratings on Innovent with a target price of HK$105, citing its robust global partnership pipeline and upcoming clinical data catalysts.

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