Shares of Transcenta Holding Limited (ASX: 06628) have risen nearly 4% in trading.

At the time of writing, the stock is up 3.77% to HK$1.10, with a turnover of HK$136,300.

Key Developments Driving the Move

The company recently announced it has received a milestone payment of RMB 7 million related to the out-licensing of its HiCB platform.

This payment follows a strategic collaboration and non-exclusive technology license agreement signed with EirGenix Inc. by the end of 2025, after which an upfront payment was received.

The two companies have now achieved a significant technical milestone, triggering this first milestone payment.

To date, Transcenta has successfully completed key deliverables under the agreement.

The collaboration is progressing steadily with the goal of implementing the HiCB technology for GMP production at EirGenix's facilities.

Progress in Contract Services

Concurrently, the company's Contract Development and Manufacturing Organization business is making steady headway.

It has recently signed new service contracts for the GMP drug substance production of complex biologics using its HiCB process, as well as for the GMP drug product manufacturing of an siRNA project.

Transcenta is also currently in discussions for contracts on other high-potential projects.

These include integrated IND development programs, siRNA GMP drug product manufacturing, developability assessments, and material production for global clients.