Financial Wire

Touyun Biotech Unit Ties Up With Shenzhen University on Chlamyglutide Project; Shares Rise 3%

-- Touyun Biotech (HKG:1332) said its unit, Shanxi Touyun Biotechnology, signed a cooperation agreement with Shenzhen University to jointly develop the Chlamyglutide project, according to a Wednesday Hong Kong bourse filing.

Shares of the packaging products company were up nearly 3% in Thursday morning trade.

The partners will set up a joint research center focused on microalgae-based biotechnology, with Touyun committing 5 million yuan over five years.

Shenzhen University will provide patented technology and technical support, while Touyun will lead production, approvals, and commercialization, the filing said.

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