BIOCYTOGEN-B (02315) surged over 15% in early trading. As of press time, the stock was up 11.41% to HK$27.74, with a trading value of HK$12.0264 million.

On the news front, the Shanghai Stock Exchange's listing review committee announced on September 17 that BIOCYTOGEN's STAR Market IPO has reached a critical milestone, with the initial public offering scheduled for review on September 24. For this STAR Market IPO, BIOCYTOGEN plans to raise 1.185 billion yuan, with proceeds allocated to early-stage drug development service platform construction, antibody drug research and development evaluation projects, preclinical and clinical development projects, and supplementing working capital.

Notably, earlier this month, BIOCYTOGEN announced it has signed an antibody option evaluation agreement with global leading technology company Merck to advance the development of antibody-conjugated lipid delivery solutions for nucleic acid drugs, such as antibody-conjugated lipid nanoparticles (LNPs). Under the agreement terms, BIOCYTOGEN will provide fully human antibodies independently developed based on its RenMice® platform, which Merck will evaluate for feasibility in antibody-conjugated LNP formulation services. Merck has been granted exclusive option rights to acquire interests in selected antibody assets, while BIOCYTOGEN is entitled to receive corresponding fee payments, sales royalties, and sub-licensing royalties.