Vaccine Photo: VCG

 
The share price of Chinese biopharmaceutical firm CanSino Biologics Inc, which is listed both on the mainland and Hong Kong, soared on Monday morning after the company's co-developed COVID-19 vaccine candidate was granted the first invention patent by Chinese authorities. 

At one point, the share price increased by as much as 20 percent, and by 11:23 am it had settled at HK$216.4 ($27.9), a 12.24 percent increase.

On the Science and Technology Innovation Board, the company's shares soared by 6.55 percent to 372.50 yuan per share by the end of the morning trading session.

The company co-developed the vaccine, known as a 'recombinant adenovirus vaccine' named Ad5-nCoV, in partnership with a team led by Chinese military infectious diseases expert Chen Wei. 

In a statement the company sent to the Global Times on Sunday, the granting of the patent provides official confirmation of the vaccine's efficacy and safety, and demonstrates ownership of CanSino Biologics' intellectual property rights.

The vaccine can begin mass production within a short time frame in the event of an outbreak, according to a document published on the website of China's National Intellectual Property Administration. 

In total, China's vaccine shares rose by 1.27 percent on Monday morning.

The mainland stock markets climbed further on Monday morning, with the benchmark Shanghai Composite Index again surging above 3,400 points. The Shanghai market rose by 2.27 percent to 3,436.30 points, while the Shenzhen Component Index rose by 1.8 percent to 13,732.4 points.

More than 80 stocks rose to their trading limit of 10 percent, with securities and insurance shares leading the rally.