Zhitong Finance App News, Kingsley Biotechnology (01548) issued an announcement. The board of directors of the company noticed an increase in the price and trading volume of the company's shares today. The Board of Directors hereby provides the Company's shareholders and potential investors with the following updates on the Group's recent business developments.
The company entered into an agreement with Lilly TuneLab™ (TuneLab), an AI-driven (AI/machine learning) drug discovery collaboration platform founded by Eli Lilly and Company (NYSE: LLY), a multinational pharmaceutical company listed on the New York Stock Exchange (stock code: LLY)). According to the agreement, the Group will provide wet laboratory services to TuneLab participating companies at preferential rates to help generate experimental data and transform AI predictions into biological evidence data.
The board believes that the agreement will further expand the Group's layout in the rapidly growing AI-driven drug discovery ecosystem, in line with its strategic direction of supporting biopharmaceutical innovation through integrated R&D solutions. The Board further confirmed that the agreement did not constitute company insider information within the meaning of Part XIVA of the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong.
Following inquiries from the Company which were reasonable in the circumstances, the Board of Directors confirmed that, as of the date of this announcement, the Board of Directors was unaware of any reason for the share price or trading volume fluctuations, nor was it aware of any insider information required to be disclosed under Part XIVA of the Securities and Futures Ordinance.