(Yicai Global) Oct. 28 -- Shares in Boai NKY Medical Holdings surged as much as 11 percent today after the Chinese pharmaceutics firm said it has signed a five-year deal with the UK’s life science research tools supplier Abcam to provide it with biological reagent raw materials for its in vitro diagnostic products as well as support in their commercialization.
Boai NKY’s share price [SHE:300109] was trading up 5.8 percent today at CNY17.34 (USD2.71) at 2:20 p.m. China time. It had earlier reached CNY18.32.
Abcam will provide customized biochemical reagent services to Boai NKY, the Jiaozuo, central Henan province-based firm said today. If Boai NKY successfully takes an IVD product developed using Abcam’s reagents to market, it will pay the Cambridge-based firm milestone fees and sales commissions. No financial details were given.
The cooperation will help Boai NKY improve its product portfolio and enhance its competitiveness by leveraging Abcam’s global brand and marketing channels, it said.
Editor: Kim Taylor