(Yicai Global) July 27 -- China's CanSino Biologics and US drug giant Pfizer are teaming on what could become China's first vaccine that should protect people against four types of bacteria that cause meningococcal disease.

Pfizer will promote Menhycia, developed by CanSino, in China's mainland, the Tianjin-based company said in a filing to the Hong Kong Stock Exchange yesterday. The firm is looking to float shares on Shanghai's Star Market soon.

Tetravalent meningococcal conjugate vaccines are common abroad, including New York-headquartered Pfizer's Nimenrix, Brentford-based GlaxoSmithKline’s Menveo, and Sanofi Pasteur’s Menactra. But those are not available in the Chinese market.

In December, the National Medical Products Administration said it would prioritize reviewing CanSino's shot. So far, China has vaccines against two types of Neisseria meningitidis bacteria which can cause severe infectious diseases, and particularly among children.

Along with regular updates on CanSino's Covid-19 vaccine development, deepening collaboration with a foreign drug giant could boost investor confidence. The Chinese company's upcoming offering on the one-year-old tech board has already gained the securities regulator's approval.

This is the first collaboration of its kind, said Chairman Yu Xuefeng, adding that the Chinese vaccine maker will be taking charge of research and development, as well as production, while the multinational corporation will be responsible for promotion.

CanSino's stock price [HKG:6185] climbed 0.1 percent to HKD215.20 (USD27.80) this morning.

Editor: Zhang Yushuo, Emmi Laine