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Apeloa Pharmaceutical Unit Signs Cooperation Agreement With Two Biotech Firms; Shares Down 3%

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Apeloa Pharmaceutical's (SHE:000739) subsidiary, Zhejiang Ante Yutai Biotechnology, entered into a cooperation agreement with Shanghai Wuxi Biologics and Shanghai Duoning Biotechnology, according to a Shenzhen bourse filing on Tuesday.

Under the deal, Wuxi Biologics will provide research, development and manufacturing services to Ante Yutai.

Duoning Biotech will also provide key consumables and supporting hardware to Ante Yutai for biologics research and development, and manufacturing.

The pharmaceutical company's shares fell 3% during the afternoon trade.

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