(Yicai Global) Sept. 22 -- Shares of Poly Pharm rose after the Chinese contract development and manufacturing organization said it had struck an agreement with US drug developer Celsion to produce its Covid-19 nucleic acid vaccines.

Poly Pharm [SHE:300630] closed up 1.6 percent today at CNY46.45 (USD7.18), the highest in over a month, after surging almost 4 percent in the morning session. The stock has gained about 18 percent in the past week.

The Chinese CDMO will produce clinical batches of Celsion’s investigational DNA-based Covid-19 vaccine and, following approval, will also make commercial batches, the Haikou, Hainan province-based company said in a statement yesterday. It did not specify the deal’s value, saying only that the specific projects require the signing of other contracts. 

Poly Pharm also did not provide further details about the new drug, but said nucleic acid vaccines have the advantage of requiring less time in R&D and production, while offering strong immunity and levels of safety. Additionally, DNA-based vaccines can be stored for long periods at normal temperatures.  

This is the second time that Poly Pharm will provide contract manufacturing of new drugs for New Jersey-based Celsion, it said, adding that the pair’s first collaboration was the production of an innovative drug combining the immunotherapy and chemotherapy that is used in the treatment of ovarian cancer patients. 

Nasdaq-listed Celsion is a clinical-stage drug developer focusing on DNA-based immunotherapy and next-generation vaccines. 

Editor: Tom Litting