MIRXES-B (02629) saw its shares jump more than 18% during trading. At the time of writing, the stock was up 8.43%, trading at HK$15.13, with a turnover of HK$94.399 million.

The surge follows the company's recent announcement that it has signed a memorandum of understanding with Apollo Health and Lifestyle Limited (AHLL), a wholly-owned subsidiary of Apollo Hospitals Enterprise Limited. The agreement aims to pursue a strategic collaboration to jointly develop and commercialize advanced early cancer detection solutions in India and neighboring countries.

Subject to achieving agreed objectives and obtaining respective board approvals, the parties expect to establish a joint venture in India. The venture, which will leverage intellectual property, clinical pipelines, research and development capabilities, clinical trial infrastructure, and commercial channels contributed by both MIRXES-B and Apollo, is projected to have an equity value of no less than $50 million.

Apollo and AHLL are recognized as leading healthcare providers in Asia, known for their advanced medical services across South Asia and the Middle East. They are committed to strengthening their position as global leaders in preventive oncology and disease management. Apollo is also regarded as a top-tier cancer treatment institution in India, dedicated to becoming a key player in early disease detection and prevention worldwide through innovative approaches.

The collaboration is designed to achieve large-scale commercialization and market adoption of these solutions, thereby expanding access to early disease screening in the region.