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PegBio’s shares surged significantly after the Chinese pharmaceutical company announced it had entered into a three-year project cooperation agreement with Nasdaq-listed Rani Therapeutics. The collaboration focuses on the preclinical development of oral formulations for its innovative drug candidates targeting obesity and metabolic disorders.
Following an initial jump of nearly 50 percent, PegBio [HKG: 2565] was trading up 28.8 percent at HKD 7.12 (roughly 91 US cents) per share around 2:15 p.m. in Hong Kong today.
The two companies plan to utilize the proprietary RaniPill oral biologics delivery platform to screen and develop oral formulations for several of PegBio’s pipeline candidates aimed at treating obesity and metabolic diseases. This announcement, made on July 8, details their strategic partnership, which also includes comprehensive evaluations of platform-wide oral delivery development initiatives.
The portfolio of candidate assets includes multi-target metabolic regulatory molecules, long-acting platform assets, and other innovative therapies. The partnership aims to advance the most promising candidates into clinical trials and explore joint research, manufacturing, and commercialization opportunities outside China.
“The RaniPill platform is uniquely capable of unlocking the full potential of PegBio’s molecules through oral delivery,” said the company’s CEO. “We are excited to collaborate and accelerate the development of these promising therapies.”
Rani’s CEO expressed confidence in the partnership: “This collaboration with PegBio is a significant step toward expanding and diversifying our obesity treatment options across various mechanisms of action. Our work with multiple candidates demonstrates the versatility of the RaniPill platform and our dedication to providing patients with more oral medication options.”
He added, “PegBio’s pipeline aligns well with the areas where we see significant unmet needs and market opportunities in obesity treatments.”
The company noted that oral dosage forms can enhance medication convenience for patients, broaden the scope of product applications, and strengthen the global competitiveness and commercial prospects of these assets.
PegBio is dedicated to researching and developing novel peptide biotherapeutics for chronic metabolic conditions. In November, China approved their independently developed long-acting glucagon-like peptide-1 receptor agonist, Vipiglutide Injection.
Vipiglutide Injection marked PegBio’s first approved new drug, indicated for blood sugar management in adults with type 2 diabetes. The company is also conducting clinical trials for treatments targeting obesity and weight management.
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