-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
- Cosmetic Ingredient
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Since the second half of this year, the Hong Kong IPO market has gradually shown signs of
recovery.
On December 30, Shandong Boan Biotechnology Co.
, Ltd.
(hereinafter referred to as "Boan Biotechnology", stock code: 6955.
HK) stepped on the last train of this year's Hong Kong stock IPO and was officially listed
on the main board of the Hong Kong Stock Exchange.
According to Boan Biotech's announcement on December 29, under the premise that the over-allotment option is not exercised, its global offering totals 10,694,800 H shares at an offer price of HK$19.
8 per share, or 200 shares
per board.
The Hong Kong public offering portion was moderately oversubscribed and the international offering portion was slightly oversubscribed
.
The company introduced three cornerstone investors, including Fu Heliang, founder of Jiangsu Addi Pharmaceutical Co.
, Ltd.
(688488.
SH), and Harvest, a well-known fund
Great Bay Investment SP and China Biopharmaceutical Company Limited (1177.
HK) subscribed for a total of 7,594,000 Offer Shares
The Offer Shares, representing approximately 71.
01% of the Offer Shares offered worldwide (assuming the over-allotment option is not exercised) with a hold period of 6 months
.
UBS Securities Hong Kong
Limited and Essence Capital (Hong Kong) Limited are joint sponsors
.
The bell-ringing ceremony is for this company from Yantai, Shandong Province, backed by the old Hong Kong listed company Luye Pharmaceutical (2186.
HK) biopharmaceutical companies, shouting the slogan of "becoming the world's leading biopharmaceutical company" at the beginning of their listing, can it become the vanguard of biotech in the context of intensified industry competition?
There are already two products "hematopoietic" and commercialization
There are already two products "hematopoietic" and commercializationAccording to the prospectus of Boan Biotech, the company is one of the few biopharmaceutical companies
in China that can achieve product commercialization from the initial drug discovery and development to the final submission of biological product license application.
It is worth mentioning that the company has promoted the commercialization of two products last year and this year respectively, and looking at 18A biotechnology companies, few companies can have such commercialization results
at the beginning of listing.
Compared with the frequent dynamics of biopharmaceutical companies selling pipelines, selling equity and selling production lines this year, Boan Biotechnology, which is rapidly gaining momentum in commercialization, is very comfortable in the whole biopharmaceutical industry chain
.
According to public financial data, the company's first product, Boyouno ®, as the third bevacizumab biosimilar in China, has brought good cash flow to the company since its launch in May 2021, and the product was sold within 8 months of actual sales in 2021
159 million yuan, and sales revenue in the first half of 2022 reached 221 million yuan
.
Such sales performance is rare in an environment where there are nearly ten competing products in China
.
As the "gold standard" of anti-angiogenic therapy, there are many entrants in the field of bevacizumab, and the competitors faced by Boyounuo include Qilu and Cinda, and Henlius and Henlius
.
Under the fierce competition, Boan Biotech's commercialization ability has been tested
by the first variety of Boyounuo.
According to public information, Boan Biotech's distribution network quickly covered nearly 1,000 hospitals across the country, and for the broader county market, within one month of the approval of Boyouno, it granted AstraZeneca the exclusive promotion of the product
in specific counties and regions in many provinces, municipalities and autonomous regions in China.
Different from the first product, which "kills" in the fierce competition, Boan Biotech's second product, Boan ® Biotech, as the world's first approved denosumab biosimilar, faces much milder competition and has a unique first-mover advantage
in commercialization.
After the product was approved in China in November 2022 for osteoporosis in postmenopausal women at high risk of fracture, it began to be sold nationwide at the end of the same month.
Combing through Boan Biotech's product pipeline, it is not difficult to find that many of its biological drugs are still close to the commercialization stage
.
The prospectus disclosed that BA1102 (denosumab, Angavi biosimilar) in the field of oncology, BA9101 (aflibercept, Alia biosimilar) in the field of ophthalmology, and BA5101 (dulaglutide, Duyida biosimilar) in the field of metabolism have been in phase III clinical trials in China, of which BA1102 is also in clinical trials
overseas.
The above product development progress is at the forefront, and it is expected to continue the first-mover advantage
of Boyoupi.
Differentiated innovation pipeline to establish a platform "moat"
Differentiated innovation pipeline to establish a platform "moat"If biosimilars allow Boan Biotech to gain a firm foothold in the fierce competition and open a stable road to self-hematopoiesis, then its differentiated layout in innovative antibodies is the foundation
for long-term sustainable development.
According to the prospectus, the company has 8 innovative antibodies under development, and from the perspective of target layout, Boan Biotech intends to build a product portfolio with differentiated characteristics, while accelerating the speed of research and development to gain more first-mover advantages
.
Sorting out Boan Biotech's research pipeline, the company's existing layout of Claudin18.
2, IL-4Rα, CD25, etc.
are the current more popular targets, more mature than completely unknown targets, such hot targets often have proven experience in the front, on this basis, Boan Biotech adopts a differentiated development strategy, relying on its own platform advantages, or building differentiated characteristic antibodies for more popular targets, or using the first-mover advantage to create the "first"
.
Specifically, the company's Claudin18.
2-targeted fully human monoclonal antibody BA1105 is ADCC-enhanced, which is expected to become the best targeted drug for the treatment of metastatic pancreatic cancer, advanced gastric cancer and esophagogastric junction adenocarcinoma, and its anti-IL-4Rα fully human monoclonal antibody BA2101 in the field of autoimmune therapy is the first anti-IL-4Rα long-acting new drug to enter the clinical trial stage in China; Its anti-CD25 fully human monoclonal antibody BA1106 is the first innovative anti-CD25 antibody
for the treatment of solid tumors that has started clinical trials in China.
Its differentiation strategy is also reflected in the field of bispecific antibodies: the anti-PD-L1/TGF-β bispecific antibody product BA1201 is the first bispecific antibody approved by Boan to initiate clinical trials, which can combine two targets at the same time and regulate the signaling pathways related to two cancer treatments, which has unique advantages in tumor immunotherapy; Its anti-tumor CEA/CD3 dual antibody BA1202 overcomes the development challenges of CD3, further enhances the efficacy and reduces the release of multiple cytokines compared with similar products under development, which has differentiated advantages
.
The differentiated competitiveness of the pipeline comes from the establishment
of a platform moat.
Boan Biotech has a comprehensive and scalable biopharmaceutical platform, in terms of drug discovery, the company's global R&D teams in Yantai, Nanjing and Boston have established three technology platforms: its fully human antibody transgenic mouse BA-huMab® and bacteriophage display technology platform greatly improves the research and development efficiency of fully human monoclonal antibody products; Its bispecific T-cell
The Engager technology platform demonstrates high activity through bivalent binding of tumor target antigens for better drug efficacy, low affinity binding by monovalent binding of T cells to reduce toxicity, and reduced affinity for CD3 binding to reduce the risk of CRS (cytokine release syndrome); Its ADC technology platform covers the entire ADC discovery and development process, which can effectively and quickly discover and develop ADC candidates, making the company's platform and product portfolio more diversified
.
In addition to drug discovery, Boan Biotech's CMC capabilities ensure high quality and cost efficiency in the entire drug development and commercialization manufacturing process, shorten drug development time, form competitive barriers that distinguish it from competitors, and provide the necessary conditions
for its product debut advantage.
After 0 to 1, acceleration from 1 to N
After 0 to 1, acceleration from 1 to NThe reform of China's drug review and approval system has gone through 7 years, and China's pharmaceutical industry has completed the transformation
of innovation from less to more and strength from small to large.
Today, the proposition given to the entire pharmaceutical industry is how to achieve the transformation
from large to strong, from local to global.
Founded in 2013, Boan Biotech's growth is also a microcosm of the above industrial development: under the wave of industrial development, the company has completed the construction of the whole industrial chain from 0 to 1, and now after moving towards the secondary capital market, it is also facing the proposition
of how to accelerate from 1 to N.
According to its prospectus, the proceeds from the listing will be used for research and development, commercialization purposes, working capital and other general corporate purposes
of core products and other products.
Jiang Hua, Chairman and CEO of Boan Biotech, pointed out that the listing on the Hong Kong Stock Exchange is another new starting point
in the development of Boan Biotech.
Looking back at the original intention of Boan Biologics, the company is not only based in China, but also committed to becoming "the world's leading biopharmaceutical company"
.
It is estimated that in the next two years, the company will submit a number of products to apply for biological product licenses, and if the progress goes smoothly, this will further increase the "hematopoietic capacity" of Boan Biotechnology.
The company said that it will seize the development wave of the global biopharmaceutical industry, continue the current vigorous development trend, further accelerate the clinical development of products under development in China and overseas markets, enrich the innovative antibody product portfolio, deepen internal manufacturing capabilities and global commercialization capabilities, and actively expand various business cooperation to accelerate the company's advancement from Biotech to Biopharma
.
