(Yicai Global) March 30 -- Shares of TSB Therapeutics’ owner surged after the parent company said the developer of China’s first Covid-19 antibody therapy had reached a deal with Sinopharm Group to commercialize the drug in the country.

Brii Biosciences [HKG: 2137] finished nearly 18 percent higher today at HKD11.14 (USD1.42), after earlier surging as much as 23 percent. Sinopharm [HKG: 1099] edged up 0.8 percent to close at HKD18.18 a share.

TSB Therapeutics and Sinopharm, a large Chinese state-owned pharmaceuticals company, will cooperate on stockpiling, channel distribution, regional access and other innovative businesses, Brii Biosciences said in a statement released today.

Shanghai-based Sinopharm is a leading distributor and retailer of drugs, medical care products and medical devices in China, with retail business covering 30 provinces.

The antibody therapy can be used to treat adults and adolescents with mild and normal type of Covid-19 with high risk for progression to severe disease.

It is an amubarvimab/romlusevimab combination drug jointly developed by Tsinghua University, the Third People’s Hospital of Shenzhen and TSB Therapeutics. The National Medical Products Administration approved it for marketing on Dec. 8.

As of March 29, TSB Therapeutics had received purchase intention and stockpiling requests for the therapy from near 20 provincial health commissions and more than 100 healthcare institutions and distribution companies. TSB is expediting production and supply to make it available to patients as soon as possible, the firm said.

Brii Biosciences owns almost 73 percent of TSB Therapeutics, according to information in the public domain.

Editor: Peter Thomas