(Yicai Global) March 29 -- Junshi Biosciences has joined hands with Singapore’s Rxilient Biotech to promote and commercialize the Chinese biopharmaceutical company’s intravenous cancer drug in Southeast Asian markets.

Junshi Bio will buy a 40 percent stake in Rxilient’s unit Excellmab, which will be granted the exclusive license and other related rights to develop and commercialize cancer drug Toripalimab in nine Southeast Asian countries, including Thailand, Cambodia, Indonesia, and Malaysia, the Shanghai-based firm said late yesterday.

Toripalimab is the first domestic mono-antibody drug targeting PD-1 approved for marketing in China. So far, more than 30 clinical studies covering more than 15 indications, including lung and skin cancer, have been carried out in China, the United States, Southeast Asia, and Europe.

Shares of Junshi Bio [SHA: 688180] closed down 0.9 percent at CNY48.66 (USD7.06) apiece in Shanghai today, while its stock trades in Hong Kong [HKG: 1877] rose 0.5 percent to HKD28.45 (USD3.62). 

Rxilient is a holding subsidiary of China Medical System Holdings. Founded in 1995, China Medical System formed strategic partnerships with many world-leading pharmaceutical companies on the commercialization of drugs. Its shares [HKG: 0867] finished up 0.6 percent at HKD12.72.

At the end of last year, China Medical System’s total assets had reached CNY17.8 billion (USD2.6 billion). The Shenzhen-based company had a net profit of CNY3.3 billion in 2022 on operating income of CNY9.2 billion (USD1.3 billion).

Editor: Futura Costaglione