QuantumPharm (HKG:2228) entered into a non-legally binding memorandum of understanding with PT Sinar Mas Multiartha (IDX:SMMA) on Oct. 30 to form a strategic collaboration in the fields of artificial intelligence and automation in Southeast Asia.
The Indonesia financial services provider plans to utilize its industry resources and expertise together with QuantumPharm's AI and robotics expertise under the collaboration, a Thursday Hong Kong bourse filing said.
The drug discovery and intelligent automation solutions provider's shares plummeted nearly 10% in recent trade.
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