These 15 pharmaceutical companies may go to Hong Kong for listing

Source: Pharmaceutical magic data 2018-03-19 recently, the Hong Kong Stock Exchange explicitly revised the listing rules to allow non-profit biopharmaceutical companies to be listed; relevant departments in the mainland are also considering supporting relevant plans for the listing of "unicorn" enterprises This means that China's innovative drug investment has the best exit path, and China's new drug research and development will usher in vigorous development under the multiple advantages of technology, talents, policies and capital The reason why Hong Kong listing is chosen is that "different rights of the same share" and "allowing eligible unprofitable biotechnology companies to be listed" are the two financing benefits that most attract enterprises So, which pharmaceutical companies will take the lead in going public in Hong Kong? Based on the existing public information, the author lists the first 15 pharmaceutical companies that may be listed in Hong Kong Xinda biological Valuation: ＞ US $1 billion financing amount: about RMB 2.568 billion back capital: stora capital (fidelity Asia), US f-prime capital partners, Lilly Asia Fund, Junlian capital, Singapore Temasek, SDIC innovation, Hillhouse capital, China life, Taikang, US capital group, etc Expected IPO Financing: didn't disclose that on January 16, endpoints, a well-known foreign medical information website, quoted Bloomberg News Agency as saying that Cinda biology is carrying out a $150 million pre IPO round financing, with a post investment valuation of more than $1 billion, but the IPO market has not been determined, and will make a choice between NASDAQ and Hong Kong stock exchange At the annual meeting of Huaxing capital held at the end of 2017, Yu Dechao also expressed the idea of giving priority to listing in the United States or Hong Kong in the thematic discussion of "IPO path of biotechnology companies" Xinda biology was established in Suzhou in 2011 with a registered capital of RMB 525 million In October 2011, the company received a round a investment of US $5 million, invested by stork capital (formerly fidelity Asia) and f-prime Capital Partners In June 2012, it obtained 30 million US dollars in round B investment, and invested by Lilly Asia Fund, stork capital (fidelity Asia) and f-prime Capital Partners In January 2015, the company obtained US $115 million round C investment, which was jointly funded by new investors such as Junlian capital, Singapore Temasek and Hillhouse capital under Lenovo holding and original investors such as fidelity, Lilly Asia Fund, Tonghe capital In November 2016, the company completed a round D financing of 262 million US dollars, led by the state investment innovation, followed by Guoshou health fund, Junlian capital, Licheng asset, Ping An, Taikang Insurance Group, etc Xinda bio's product line Xinda bio has built a product line including 13 new antibody drugs, and the treatment field covers four major disease fields, including tumor, autoimmune disease, fundus disease and cardiovascular disease Valuation of Fuhong Hanlin: US $1.5 billion financing amount: about RMB 1.385 billion back capital: Fosun Pharmaceutical, founder Hesheng, Huagai capital, gaotejia, Jacobson pharmacacorp, Yuansheng venture capital, Qingke venture capital and Dongfang securities (Dongfang Xinghui) expected IPO Financing: ≥ US $500 million In February 2018, Bloomberg quoted people familiar with the matter as saying that Fuhong Hanlin Biotechnology Co., Ltd., a subsidiary of Fosun Pharmaceutical, is likely to issue shares in Hong Kong in the second half of this year, raising at least $500 million If all goes well, Fuhong Hanlin may become the first company to be listed on the Hong Kong Stock Exchange under the new rules Fuhong Hanlin was jointly established by Fosun Pharmaceutical and the US scientists team in December 2009 with a registered capital of 450 million yuan (as of January 10, 2018) On March 1, 2016, Fuhong Hanlin obtained an angel round financing of US $4 million, which was invested by founder Hesheng On April 12 of the same year, Liu Shigao, founder of Fuhong Hanlin, Jiang Weidong, chief scientific officer, and the employee shareholding platform increased the company's capital by 6.696 million yuan On May 27 of that year, Fuhong Hanlin completed external financing of US $40 million, led by Huagai capital, followed by Qingke venture capital, Yuansheng venture capital, Oriental Securities (Dongfang Xinghui), founder Hesheng investment, with a post investment valuation of about US $490 million On August 10 of the same year, Fosun Pharmaceutical announced that Fuhong Hanlin would be listed on the new third board According to the prospectus, from January to September 2016, the company's revenue was 19.74 million yuan, net loss was 47.31 million yuan, total assets was 864 million yuan, including liabilities of 304 million yuan In January this year, gotega, Jacobson Pharma Corp and others completed investment of about $190 million, making Fuhong Hanlin valued at more than $1.5 billion (about 10 billion people) After this round of capital increase, Shanghai Fosun new drug research Co., Ltd has 59.2% as a single major shareholder, and henlius biopharmaceuticals, Inc and henlink Inc have become the second and third largest shareholders with 12.77% and 1.08% respectively Fuhong Hanlin's product line Fuhong Hanlin is mainly engaged in the R & D and industrialization of monoclonal antibody biological analogues, biological improvers and innovative monoclonal antibodies by applying cutting-edge technologies, with R & D centers in Shanghai, Taipei and California The listing application of its developed rituxan bio similar drug was included in the priority review list by CDE, and it is expected to be listed in 2018, which is likely to be the first bio similar drug to be listed in China At present, Fuhong Hanlin has completed the ind declaration of 9 products and 16 indications, and 3 projects have entered clinical phase III (see more: Fu Hong, Han Lin, Liu Shigao: Heaven rewards sincerity, and we hope that patients all over the world can use biological medicine.) Valuation of Shanghai Tianshili Pharmaceutical Co., Ltd.: > 10 billion yuan financed (registered): 7.28 billion yuan back capital: estimated IPO Financing of Tianshili holding: about 1 billion US dollars Shanghai Tianshili Pharmaceutical Co., Ltd (hereinafter referred to as "Shanghai Tianshili"), a wholly-owned subsidiary of Tianshili Pharmaceutical Group Co., Ltd (hereinafter referred to as "Tianshili"), is expected to complete its IPO in Hong Kong in the second half of 2018, with a financing scale of about US $1 billion, Reuters reported in early March Established in 2001, Shanghai Tianshili has invested about 400 million yuan in the construction of gene engineering, large-scale cell culture, protein purification and freeze-dried powder injection production line and modern office facilities in accordance with the requirements of GMP 2010 On November 24, 2017, the company changed its registered capital to 7.28 billion yuan The recombinant human urokinase for injection (trade name puyouke) developed by the company has been successfully marketed in 2012 for thrombolytic therapy of acute ST segment elevation acute myocardial infarction According to Tianshili announcement, the sales volume of puyouke in 2016 was 38 million yuan In June 2017, the product entered the new national medical insurance catalog through negotiation, and the sales revenue is expected to exceed 100 million yuan in 2017 According to research reports released by several securities companies, the market space of puyouke is about 3 billion yuan Shanghai Tianshili has several heavy-duty products in the R & D stage, with market space of more than 1 billion Estimated value of Hualing pharmaceutical: ＞ amount of financing not publicly reported: About 553 million yuan back capital: arch, venlock, stork capital, Wuxi ventures, Huiqiao capital, Shanghai Lianhe, Tonghe capital, Taifu capital, Jiashi investment expected IPO Financing: 300-400 million US dollars According to Bloomberg and Reuters, Hualing pharmaceutical plans to IPO in Hong Kong in the second half of 2018, raising 300 million or 400 million US dollars In December last year, Hualing announced that Lin Jiecheng, a senior investment banker of Bank of America Merrill Lynch who has more than 20 years of experience in investment banking and legal affairs in the medical and health industry, joined the company as CFO and executive vice president, responsible for its financial, business development and new product introduction and cooperation Hualing pharmaceutical was founded in 2011 with a registered capital of US $21.067 million It is a pharmaceutical research and development company Its current research and development fields include type 2 diabetes drugs and central nervous system disorders drugs At the end of 2013, the company received $10 million a round investment, which was jointly invested by arch, venlock, Fidelity's Sidao capital, Wuxi ventures, Shanghai Lianhe (SAIL) In January 2015, the company received 25 million USD round B investment, led by ally bridge group Three new institutional investors participated by frontline bio ventures and TF capital, as well as five original round a investors, arch, venlock, fidelity, Wuxi ventures and Shanghai Lianhe (SAIL), participated in the completion In April 2016, the company completed US $50 million round C financing in both US dollar and RMB currencies, harvest investment led investment, Tonghe capital followed investment, and Huaxing capital acted as the exclusive financial consultant Dorzagliatin, a candidate drug in Hualing R & D pipeline of Hualing pharmaceutical, regulates carbohydrate metabolism of human body by acting on enzymes with functions similar to "glucose sensor", so as to help patients with type 2 diabetes This is the first new drug in the world Two phase III clinical studies have been conducted in China According to CEO Chen Li, they plan to bring the product to the market by 2020, and the process will cost US $200 million, and they hope that the drug sales will reach US $3 billion by 2025 In this case, Hualing pharmaceutical has made an investment budget of 200 million yuan to complete the commercialization of the drug, which can undoubtedly reduce the obstacles to its listing in Hong Kong Estimated value of Ping an good doctor: 5 billion US dollars (about 39 billion Hong Kong dollars) financing amount: About 5.85 billion yuan back capital: IDG capital, Ping An Innovation Investment Fund, Yongbai capital PGA ventures, Softbank vision fund, SBI investment (Sibley) is expected to raise no more than 1 billion US dollars in IPO Ping An, China announced on the evening of January 29 that it had applied to the Hong Kong stock exchange for approval of the spin off or independent listing of Ping An health technology company on the main board, with a financing of no more than US $1 billion Ping An health medical technology company is the listed subject of "ping an good doctor" It was founded in August 2014 with a registered capital of 350 million yuan and a total financing amount of 5.85 billion yuan According to the strategy of Ping An Group, as an online traffic portal, Ping an good doctor will establish a one-stop, full process, o2o health care service model According to the prospectus of Ping an good doctor, the company's revenue increased by 115.8% from RMB 278.7 million in 2015 to RMB 601.5 million in 2016, and the revenue in the first nine months of 2017 was RMB 1016.3 million, an increase of 240.4% compared with the same period of 2016 In May 2016, Ping an good doctor realized a round of financing of US $500 million The investors are IDG capital, Ping An Innovation Investment Fund and Yongbai capital PGA ventures, with a valuation of US $3 billion In February 2018, Ping'an good doctor (Ping'an Health) announced that it has obtained 400 million USD f rounds of pre IPO Financing, soft bank vision fund leading investment, IDG capital, SBI investment (Sibley) and other follow-up investment It is worth noting that just one month before Ping'an good doctor submitted his listing application to the Hong Kong stock exchange, Softbank group of Japan quickly injected $400 million into Ping'an good doctor and obtained 7.41% of the shares Yongtai biological Valuation: ＞ US $1.5 billion financing amount: RMB 400 million back capital: mainly for shareholders and large pharmaceutical companies expected IPO Financing: US $300-500 million according to the informed person of Pharma, Yongtai biological plans to submit the A1 listing application to the stock exchange in the third quarter of 2018, and the proposed financing is US $300-500 million Founded in 2006, Yongtai biology mainly provides immune cell engineering products and services, including the development and services of individualized immune cells and gene modified cell technology products The registered capital of the company is 18 million yuan Yongtai biological's product research and development pipeline Yongtai biological has its own patented cell treatment product, expanded activated lymphocyte (EAL), which declared ind to CDE as early as 2015, and won the award on October 17 last year