Zhaoke Ophthalmology Hong Kong stocks listed product line focuses on five major ophthalmic indications

On April 29, Zhaoke Ophthalmology (06622.
HK) went public on the Hong Kong stock market with an issue price of HK$16.
8, making it the second ophthalmic drug biotechnology company to land on the Hong Kong stock market after Ocom Vision Biotech
.

Source: Zhaoke Ophthalmology Prospectus

Zhaoke Ophthalmology is an ophthalmology pharmaceutical company dedicated to discovering, developing and commercializing ophthalmic therapies to meet the huge medical demand gap in China
.

With the rapid aging of the Chinese population and other variables that lead to an increase in the prevalence of eye diseases, such as excessive use of electronic devices, air pollution and other risk factors, it is expected that China’s huge population of eye disease patients will continue to grow rapidly

Zhaoke Ophthalmology has established a comprehensive ophthalmic drug pipeline consisting of 13 innovative drugs and 12 generic drugs based on China's huge medical demand for ophthalmology
.

Among the 13 innovative drug pipelines, 8 drug candidates have the potential to become the leading products in the Chinese market.

Innovative drug pipeline (Source: Zhaoke Ophthalmology Prospectus)

Generic drug pipeline (Source: Zhaoke Ophthalmology Prospectus)

Zhaoke's ophthalmology pipeline focuses on the five major domestic ophthalmic indications, namely dry eye (DED), wet age-related macular degeneration (wAMD), diabetic macular edema (DME), myopia and glaucoma
.

Dry eye

Dry eye is mainly caused by insufficient tear secretion or rapid evaporation, accompanied by ocular lacrimal gland, meibomian gland, cornea and other organ diseases, which have a great impact on the patient's health
.

Long-term use of computers, mobile phones, wearing contact lenses, cosmetic contact lenses, and long-term heavy eye makeup are all predisposing factors for dry eye

       Zhaoke Ophthalmology related innovative drug candidates include cyclosporin A eye gel, which is an innovative hydrogel formulation that can spread faster on the ocular surface and stay longer
.

In a phase 2 exploratory study of patients with moderate to severe dry eye disease, cyclosporine A eye gel was administered once a day, showing good efficacy and safety

       Wet age-related macular degeneration

       Age-related macular degeneration is one of the leading blinding diseases in adults aged 50 and above
.

Among them, wet age-related macular degeneration caused 80% to 90% of irreversible central vision loss, and it was once regarded as an "undead terminal illness"

       Zhaoke's ophthalmology related drugs include PAN-90806, which is an anti-VEGF preparation in the form of new eye drops, which is planned to be developed for the treatment of wet age-related macular degeneration and diabetic macular edema
.

According to the prospectus, PAN-90806 is a small molecule compound with good physical and chemical properties, which can be used for external drug delivery

       Diabetic macular edema

       Diabetic macular edema is the main cause of blindness in diabetic patients, and 21 million people worldwide are affected by it, including 12% of patients with type 1 diabetes and 28% of patients with type 2 diabetes
.

The persistent high blood sugar caused by diabetes can damage the small blood vessels in the eyes, causing fluid to leak out

       Zhaoke Ophthalmology currently has two related drugs: ZK002 and PAN-90806
.

ZK002 is a proprietary protein with a new mechanism of inhibition of inflammation (anti-inflammatory effect) and vascular leakage (anti-osmotic effect).

       myopia

       Myopia is one of the most common eye diseases in the world
.
In 2019, the number of myopia patients in China has reached 700 million, accounting for about half of the world's myopia population.
China's myopia drug market is expected to increase to US$3 billion in 2030
.
Among them, 162.
8 million people are adolescents (6 to 22 years old), these people can delay the progression of myopia through drug treatment
.

       Zhaoke Ophthalmology currently has NVK-002, a new topical ophthalmic solution used to control the progression of myopia
.
According to the prospectus, the proprietary formulation of NVK-002 successfully solved the instability of low-concentration atropine.
It contains no preservatives and has a validity period of up to 24 months
.
Zhaoke Ophthalmology has the exclusive license of NVK-002 in Greater China, South Korea and several Southeast Asian countries.
The company plans to submit a new drug clinical trial application to NMPA in the second quarter of 2021
.

       glaucoma

       Glaucoma is the second most common blindness disease in the world, and the largest irreversible blindness disease in the world
.
The overall population incidence rate is 1%, and 2% after 45 years of age
.
The diagnosis of glaucoma is faced with great challenges.
For early glaucoma, even experienced glaucoma specialists often cannot make a 100% timely and accurate diagnosis
.
Glaucoma is caused by some eye diseases or systemic diseases that interfere with the normal aqueous circulation, such as glaucoma caused by eye trauma, neovascular glaucoma, iridocyclitis secondary glaucoma, glucocorticoid glaucoma, etc.
The causes of the disease are relatively clear
.
From 2019 to 2030, the market size of China's glaucoma drugs is expected to increase from US$162.
7 million to US$2 billion, with a compound annual growth rate of 25.
4%
.

       Zhaoke Ophthalmology’s current related drugs include bemeprost, which is expected to become the first generic drug in China and a preservative-free eye drops.
Zhaoke Ophthalmology has submitted a simplified product to the State Food and Drug Administration in August 2019.
The new drug application is expected to be approved in the fourth quarter of 2021
.
By 2022, Zhaoke Ophthalmology is expected to launch four generic drugs that are close to the commercial stage
.
In addition to bemeprost, there are also bemetimolol, latanoprost, and latantimide.
The indications cover glaucoma, allergic conjunctivitis, ocular surface injury diagnosis and many other ophthalmic diseases with unmet needs
.

       In the medical investment field, there has always been a saying of "golden eyes, silver teeth, bronze bones".
With the continuous improvement of living standards, the public's awareness of vision care continues to increase, and the demand for eye care in China is expected to continue to grow
.
In addition, the prevalence of eye diseases in China is significantly higher than that of the United States under the same conditions, and the size of China's ophthalmic drug market is only one-sixth of that of the United States.
This shows that there is a huge gap in the medical demand for ophthalmic drugs in China, and the gap also means the market.
The potential is huge
.
Zhaoke Ophthalmology, as an ophthalmology leader integrating R&D, production and sales, is expected to break the industry's long-term monopoly by foreign pharmaceutical companies
.

       Reference: Zhaoke Ophthalmology Prospectus