Shankang Pharmaceutical's IPO on the Shanghai Stock Exchange has been terminated. It mainly focuses on the research, development, production, and sale of innovative drugs for preventing relapse of opioid drugs.

On September 24th, Shenzhen Shankang Pharmaceutical Technology Co., Ltd. (referred to as Shankang Medicine) had its IPO review status on the Shanghai Stock Exchange changed to termination. Due to Shankang Medicine and its sponsor withdrawing their application for listing, the Shanghai Stock Exchange terminated the review for its IPO. According to the prospectus, Shankang Medicine is mainly engaged in the research, production, and sales of innovative drugs, with a focus on addiction treatment drugs such as those used to prevent relapse of opioid drug addiction and treat alcohol use disorders. It is an international innovative drug research enterprise with independent intellectual property rights and a global perspective, dedicated to creating a "Chinese solution" for addiction treatment. Substance addiction, represented by drugs and alcohol, poses a significant threat to public health, property security, and social stability. Since its establishment, the company has been committed to addressing the global challenge of substance addiction. Through years of research and innovation, it has developed a drug delivery system innovation platform with sustained-release implant technology as its core, focusing on the innovative application of this core technology platform in the treatment of addiction, central nervous system diseases, autoimmune diseases, infectious diseases, and other medical fields, aiming to provide patients with safer, more effective, and more accessible treatment options and fulfill its social responsibility. As of the date of the prospectus signing, Shankang Medicine's product pipeline includes one core product with two indications in the preparation stage of product registration and Phase II clinical trials, along with six major preclinical research projects. The two indications of the core product, "Naltrexone Implant," have been approved for Phase II clinical trials. SK1801 (Naltrexone Implant - used to prevent relapse of detoxified opioid addicts) is the company's core research product and has been included in the list of "breakthrough therapeutic drugs" by the China Drug Evaluation Center. It is the only drug in the addiction treatment field to be classified as a breakthrough therapy and the only long-acting detoxification drug in China poised to enter the commercialization stage, with the indication for preventing relapse of detoxified opioid addicts. SK2007 (Naltrexone Implant - used to treat alcohol use disorders) received clinical trial approval in August 2022 and initiated Phase II clinical trials in China. Additionally, leveraging its drug delivery system innovation platform with sustained-release implant technology at its core, Shankang Medicine is steadily advancing its other preclinical research projects, which are expected to achieve market access and sales of new drugs in the future. In terms of financial performance, Shankang Medicine achieved net profits of approximately -30.29 million, -33.23 million, -66.16 million, and -47.68 million yuan in 2019, 2020, 2021, and January to June 2022, respectively.