(Yicai) Sept. 18 -- Shares of Changchun High-Tech Industry Group rose after the biopharmaceutical company said its unit has secured the rights in the Chinese mainland to new immunotherapies and testing reagents of Danish allergy solutions giant ALK-Abelló.

Changchun High-Tech [SHE: 000661] closed 5.2 percent higher at CNY130.31 (USD18.34) a share today. The broader Shenzhen market lost 1.1 percent.

Jinsai Pharmaceutical will pay up to EUR177.7 million (USD209.6 million) to jointly develop and commercialize two immunotherapies and one testing kit for treating house dust mite allergy with ALK-Abelló, its parent firm Changchun High-Tech announced late yesterday. The tie-up will end Dec. 31, 2039.

The three products include an injectable branded Antuoda and a detection kit branded Anci, which are already available on the Chinese market, and a tablet for treating allergic asthma and allergic rhinitis that has not been launched in China yet, but is sold overseas as Acarizax.

House dust mites are tiny arthropods commonly found indoors. Some people have an allergic reaction to such dust mites and their metabolites, with the most common symptoms including allergic rhinitis, allergic asthma, atopic dermatitis, and urticaria.

Under the deal, Jinsai Pharma will pay ALK EUR32.7 million (USD38.6 million) in down payments and EUR40 million in milestone payments at different stages of clinical trials and regulatory approval in China for the unlaunched tablets, and will bear part of the Phase III clinical research and new drug registration costs. It will also pay up to EUR105 million after the drug launches based on net sales and performance.

Jinsai Pharma will take over the sales and marketing of Antuoda and Anci starting Oct. 1, Changchun High-Tech said. It will also cooperate with ALK to advance the clinical trials of Acarizax, striving to obtain approval from Chinese regulators as soon as possible, it added.

Hørsholm-based ALK focuses on developing drugs for allergies and allergic asthma, with its relevant global market share exceeding 45 percent, Changchun High-Tech pointed out.

China has the most dust mite allergy patients worldwide, but the market penetration rate of related drugs is significantly low, with many unmet clinical needs, especially among pediatric patients, Changchun High-Tech said. The new immunotherapies will form in-depth synergy with Jinsai Pharma's existing pediatric drug business, helping to consolidate the company's competitive advantage in the pediatric market, it noted.

Editor: Martin Kadiev