ImmuneOnco Biopharmaceuticals (Shanghai) (HKG:1541) said the first patient in its Phase I-B clinical trial for systemic lupus erythematosus (SLE) was administered with the dose of treatment, according to a Thursday filing with the Hong Kong bourse.

IMM0306 attaches to two specific proteins, CD47 and CD20, found on cancerous B cells and sticks more to CD20 than to CD47, making the cancer treatment more effective, the filing said.

The pharma company's shares were up by over 16%.

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