Understanding the Market | WuXi XDC surged over 8% during trading, announcing the signing of a strategic cooperation letter of intent with AbTis to accelerate the development of innovative ADC drugs
WUXI XDC's stock price rose more than 8% during the trading session, with an increase of 8.13% as of the time of publication, reported at HKD 37.9, with a transaction volume of HKD 71.1095 million. The company announced the signing of a strategic cooperation letter of intent with the South Korean biotechnology company AbTis, and both parties will collaborate to promote the research and development of innovative ADC drugs, utilizing AbTis's advanced site-specific conjugation technology platform AbClick, aiming to improve the safety and efficacy of antibody-drug conjugates
According to Zhitong Finance APP, WUXI XDC (02268) rose more than 8% during the session, and as of the time of publication, it was up 8.13%, trading at HKD 37.9, with a transaction volume of HKD 71.1095 million.
In terms of news, on March 11, WUXI XDC announced the signing of a strategic cooperation memorandum of understanding (MOU) with the South Korean biotechnology company AbTis. According to the agreement, WUXI XDC will incorporate AbTis's advanced site-specific conjugation technology platform, AbClick. This technology platform achieves precise and efficient antibody-drug conjugation through affinity peptide assistance. WUXI XDC will leverage its extensive global customer network to promote the widespread application of AbTis technology, facilitating deep cooperation and win-win outcomes in the field of bioconjugated drugs for both parties. This collaboration fully demonstrates the shared vision of both companies in promoting technological innovation and empowering the biopharmaceutical industry. By integrating both parties' technologies and enhancing service capabilities, the aim is to shorten development cycles, optimize R&D processes, and accelerate the development of innovative ADC drugs.
It is reported that AbTis is a biotechnology company specializing in antibody-drug conjugate (ADC) connection platforms, possessing its proprietary technology. The company is developing third-generation ADCs aimed at improving the safety and efficacy of existing ADCs through the application of AbTis's linker platform, AbClick, thereby enhancing treatment outcomes for cancer patients. This technology is applicable to "off-the-shelf" antibodies without any modifications and can selectively connect with antibodies
