HK Stock Market Move | MICOT PHARMA-B (02335) rose nearly 6% after receiving the first project funding under the National Science and Technology Major Project for "Major New Drug Development"

MICOT PHARMA-B (02335) rose nearly 6% in late trading, up 3.83% as of press time at HK$16.53, with a turnover of HK$54.6678 million. On the news front, on November 4, MICOT PHARMA-B announced that the company and Beijing Tiantan Hospital, Capital Medical University (Beijing Tiantan Hospital) are jointly undertaking a research project under the National Science and Technology Major Project "Major New Drug Development" involving the company's key product MT200605, and have recently received the first tranche of central government special funding for the project. The company has also obtained ethics approval from the lead site for the Phase III clinical trial of MT200605. This project is a sub-project under the National Science and Technology Major Project "Major New Drug Development" (the Project), jointly undertaken by the company and Beijing Tiantan Hospital. The board of directors believes that this collaboration and the receipt of the first tranche of special funding are of strategic significance to the group. Building on the positive results from the Phase II clinical trial of MT200605, this collaboration will fully leverage Beijing Tiantan Hospital's professional advantages in stroke research and multicenter clinical trials to support the subsequent clinical development of MT200605. At the same time, the project funding will provide additional financial support for related R&D activities, helping to advance the product's clinical development work. Following the completion of the Phase II clinical trial of MT200605, the company has received the first tranche of central government special funding for the Project and is advancing the clinical development of MT200605 toward Phase III.