SINOMAB BIO-B (03681) experienced significant gains during trading, climbing over 11% intraday. As of press time, the stock was up 8.64% to HK$3.52, with trading volume reaching HK$106 million.

On the news front, SINOMAB BIO-B announced that on August 12, the company entered into a comprehensive strategic cooperation agreement with Sun Yat-sen University Hong Kong Institute for Advanced Study Limited. Under this agreement, both parties have committed to a three-year collaboration focused on joint research and development in the biomedical sector.

The board of directors views this cooperation agreement as providing valuable opportunities for both parties to leverage their respective resources and expertise, achieving mutual benefits and creating synergistic effects. Consequently, the board considers the cooperation agreement to be fair and reasonable, and in line with the overall interests of the company and its shareholders.

According to the announcement, this cooperation agreement aims to harness the combined strengths of the company and Sun Yat-sen University Hong Kong Institute for Advanced Study to accelerate innovative drug development and promote the translation of scientific research achievements into clinical applications globally.

The collaboration will operate under a project-driven model, with resource sharing and efficient communication as the core framework. This model will enable the group to directly access the Institute's comprehensive laboratory facilities, experimental animal supply resources (particularly non-primate animals), and valuable data assets, which are crucial elements for advancing innovative drug research and ensuring the company's sustainable R&D development.

The board believes this strategic cooperation establishes a mutually beneficial framework that will help drive growth and ensure long-term sustainability. This collaboration aligns with the company's strategy to advance the development of its innovative drug pipeline under research.