Shares of INSILCO (03696) rose more than 6% during the morning trading session. At the time of writing, the stock was up 4.93% to HK$34.5, with a turnover of HK$21.1158 million.

Key Development

The company announced that ISM8969, co-developed with its partner, has achieved its initial clinical milestone with the first patient dosed in a Phase I study. ISM8969 is an oral, brain-penetrant small molecule NLRP3 inflammasome inhibitor with potential best-in-class characteristics. It is being developed for the treatment of chronic neuroinflammation and central nervous system disorders, including Parkinson's disease.

Partnership Details

To accelerate the global development of this candidate drug, the company entered into an exclusive global strategic co-development partnership with Hengtai Biotech. According to the agreement, each party holds a 50% stake in the global rights to the project. The company is responsible for advancing the Investigational New Drug (IND) application and the Phase I clinical trial.

Financial Terms

As the project progresses, the company is eligible to receive upfront and milestone payments totaling up to $66 million.