Shares of Keymed Bio-B (02162) have risen more than 3%. At the time of writing, the stock is up 2.03%, trading at HK$85.3 with a turnover of HK$85.1319 million.

The upward movement follows a company announcement on the afternoon of July 23rd. The announcement revealed that the company's key research and development product, CM512 (a TSLP/IL-13 bispecific antibody), has been included in the Breakthrough Therapy Designation list by the Center for Drug Evaluation of the National Medical Products Administration. This designation is for the treatment of chronic rhinosinusitis with nasal polyps (CRSwNP).

CM512 is a recombinant anti-thymic stromal lymphopoietin and anti-interleukin-13 bispecific antibody independently developed by the company. It is described as the world's first IgG-like long-acting dual blocker of TSLP and IL-13.

As of the announcement date, a randomized, double-blind, placebo-controlled Phase II clinical study evaluating the safety and efficacy of CM512 injection in subjects with CRSwNP is currently underway. The company stated that trial results will be announced in due course.

In addition to this study, the company is also advancing multiple Phase II clinical studies for CM512. The investigational drug's potential indications cover moderate-to-severe asthma, moderate-to-severe chronic obstructive pulmonary disease, moderate-to-severe atopic dermatitis in adults, and chronic spontaneous urticaria.