New stock news | Jiyuan Genetics submits again to the Hong Kong Stock Exchange. The company includes 8 products already on the market and over 10 products in development.

According to the disclosure from the Hong Kong Stock Exchange on July 23, Hangzhou Jiuyuan Genetic Engineering Co., Ltd. (hereinafter referred to as Jiuyuan Genetic) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Huatai International as its sole sponsor. It is reported that the company had previously submitted a listing application to the Hong Kong Stock Exchange on January 22. The prospectus shows that Jiuyuan Genetic, founded in 1993, is a SINO BIOPHARM company headquartered in Zhejiang Province, with over 30 years of experience in the research, development, production, and commercialization of biopharmaceuticals and medical devices. The company focuses on four rapidly growing therapeutic areas: orthopedics, metabolic diseases, oncology, and hematology. According to data from ZOIS Consultancy, these four therapeutic areas are expected to account for 51.5% of China's total drug sales in 2023, far surpassing the overall performance of the China Meheco Group industry from 2018 to 2023. The related trends are expected to continue in the near future. As of July 15, 2024, Jiuyuan Genetic has established a diversified product portfolio around these therapeutic areas, including eight marketed products (including China's first recombinant human bone morphogenetic protein-2 (rhBMP-2) bone repair material: Bonus Bone), and over 10 pipeline products (including China's first IND-approved and NDA-submitted biosimilar of semaglutide, JY29-2). The company's strategic first step is to identify therapeutic targets with market potential in the focused areas. Following this identification, they will leverage China's mature R&D platform, production capabilities, and sales and distribution networks to develop innovative and first-to-market generic products in China. Jiuyuan Genetic's marketed product portfolio includes one drug-device combination, two biologics, and five chemical drugs in the fields of orthopedics, oncology, and hematology. Several of the company's products have been the first approved domestic commercialized products in their respective categories based on market share and revenue in 2023. The most notable product is the bone repair material Bonus Bone, which is the first rhBMP-2-containing bone repair material approved for sale in China and ranked first in terms of sales revenue in the Chinese bone repair material market in 2023. The company recognizes the potential of Bonus Bone and acquired it from Hangzhou Huadong Medicine Group Co., Ltd in 2010, with most of the revenue during the performance period coming from this product. In addition to orthopedics, oncology, and hematology products, Jiuyuan Genetic also has nearly 18 years of experience in developing drugs for metabolic diseases. The company started research on GLP-1 receptor (a major therapeutic target for metabolic diseases) agonists in 2005. Using peptide drug technology platform, the company has developed China's first IND-approved liraglutide (a GLP-1 receptor agonist) in research biosimilar drug. From 2017 to 2019, the company transferred this pipeline product to China Medical Corporation to raise funds for the development of other products at the time. Through collaboration with China Medical Corporation, this pipeline product became China's first approved liraglutide biosimilar drug for treating type 2 diabetes and obesity and overweight in March and June 2023. Financially, for the four months ending on April 30 in 2021, 2022, 2023, and 2024, Jiuyuan Genetic's revenues were approximately RMB 1.307 billion, RMB 1.125 billion, RMB 1.287 billion, and RMB 473 million, with net profits of approximately RMB 119 million, RMB 59.867 million, RMB 120 million, and RMB 70.685 million respectively.