CSOP Biotech(03174.HK) down 2.50%, InnoCare-Lilly pact up to $3.25bn

NewTimeSpace News: As of 15:33 HKT on September 24, 2026, CSOP Hang Seng Biotech ETF (03174.HK) fell 2.50% intraday to HK$3.826, with turnover of HK$7.4235 million and a turnover rate of 0.76%.

NewTimeSpace understands that the ETF is managed by CSOP Asset Management Limited and tracks the Hang Seng Biotech Index, covering the 30 largest biotech companies listed in Hong Kong and eligible for Stock Connect, including companies listed under Chapter 18A of the Listing Rules. As of 15:33 HKT on September 24, 2026, the ETF had assets of HK$1.004 billion, a net asset value of HK$3.926 per unit and a board lot of 100 units.

On the news front, according to an announcement by InnoCare (09969.HK), its wholly-owned subsidiary Beijing InnoCare Pharma Technology signed a research collaboration and licensing agreement with Eli Lilly to discover and develop up to five innovative target programmes based on its proprietary drug discovery platform; Lilly will pay up to US$100 million in upfront and near-term milestone payments, with potential development and commercialisation milestone payments totalling about US$3.25 billion, and the company is entitled to tiered royalties in the single-digit percentage range on annual net sales of licensed products, with the agreement effective from September 24, 2026. 

Bohai Securities noted in a research report that China's domestic financing environment is gradually recovering, with large innovative-drug BD deals injecting funds into R&D; on the supply side, capacity has been cleared and laboratory monkey prices have stabilised and rebounded, strengthening the bargaining power of leading companies; on the export side, global primary-market financing for innovative drugs has grown, demand for new modalities such as oligonucleotides, peptides and ADCs is rising fast, and some companies have raised their full-year 2026 earnings guidance.

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