PHARMANIAGA Bhds wholly owned unit, Pharmaniaga LifeScience Sdn Bhd (PLS), has today entered into a memorandum of understanding (MoU) with CSPC Holdings Company Limited (CSPC) to establish a basis of cooperation and collaboration in the research & development, manufacturing, and commercialization of innovative pharmaceutical and biopharmaceutical products.

CSPC Pharmaceutical Group Limited is a prominent pharmaceutical group listed on the Main Board of the Hong Kong Stock Exchange since 1994.

Its product portfolio spans therapeutic areas such as nervous system disease, oncology, anti-infective, and cardiovascular disease, with a focus on small molecule targeted drugs, nanodrugs, monoclonal antibody drugs, bispecific antibody drugs, antibody-drug conjugates, and biological drugs in the immune field.

The MOU will be in effect from July 26, 2022 for a period of two years, subject to earlier termination or upon entering into a definitive agreement.

Pharmaniaga views this collaboration as an opportunity to strengthen its research & development, manufacturing, and commercialization of innovative pharmaceutical and biopharmaceutical products.

The partnership offers a platform for both companies to leverage each other’s expertise and resources in the highly competitive pharmaceutical market.

Pharmaniaga shares gained 5.5 sen or 13.58% to close at 46 sen today, translating to a market capitalisation of RM663 million. – TMR