Investors in mainland China raised their stakes in Hong Kong-listed drug makers through the cross-border trading link over the past week, as a wave of out-licensing deals between the country’s pharmaceutical firms and global partners rolls on. The Hang Seng Southbound Connect Hong Kong Innovative Drug Index, which tracks around 40 of the largest Hong…
The deal comes just days after the US company’s shares debuted following its initial public offering (IPO), which raised HK$2.28 billion (US$293 million) after the public portion was oversubscribed 1,427 times. The multi-year partnership with Servier, unveiled on Saturday, would make Insilico eligible for up to US$32 million in upfront and near-term research and development…
“Biotechnology is a high-risk field like a ‘molecular casino’,” said founder Alex Zhavoronkov. “Even with artificial intelligence, you can lose 90 per cent of the time.” The 11-year-old company was training and testing an AI-powered drug-discovery tool, Pharma.AI, to “enable faster, cheaper and more successful drug discovery with higher novelty and confidence”, he said. Zhavoronkov…