Shares of Shilpa Medicare Ltd surged 10% to hit the day’s high of Rs 710.90 on 18th March after the company announced that its subsidiary, Shilpa Biologicals, has entered into a strategic partnership with Switzerland-based mAbTree Biologics AG to co-develop and manufacture a novel immuno-oncology therapy.

Shilpa Biologicals will manage drug development, clinical trials, and long-term supply from its GMP facility in Dharwad, Karnataka.

The therapy is a fully human monoclonal antibody targeting a new immune checkpoint protein to enhance T-cell activation and immune response against cancer.

Researchers believe it can convert ‘cold’ tumours into ‘hot’ ones, improving treatment response for lung and head and neck carcinomas.

The program aims to develop a therapy similar to PD-1/PD-L1 inhibitors, potentially as a standalone and combination treatment.

Shilpa Biologicals sees this partnership as part of its mission to deliver innovative and affordable oncology treatments worldwide.

mAbTree CEO highlighted the goal of expanding access to cancer treatments in India and other underserved markets, leveraging Shilpa’s expertise.

At 11:48 AM, the shares of Shilpa Medicare were trading 9.97% higher at Rs 693.25 on NSE.

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