New stock news | Baoji Pharmaceutical submitted documents to the Hong Kong Stock Exchange, focusing on the research and development of large-scale biopharmaceuticals.

According to the disclosure of the Hong Kong Stock Exchange on January 21st, Shanghai Baotai Pharmaceutical Co., Ltd. (referred to as "Baotai Pharmaceutical") has submitted its listing application to the Hong Kong Stock Exchange main board, with CITIC SEC and HAITONG INT'L as joint sponsors. The prospectus shows that Baotai Pharmaceutical is a pioneer in China in the development and provision of difficult-to-produce recombinant biopharmaceuticals with the assistance of synthetic biology technology to meet the clinical needs. Since its establishment in 2019, the company has been focusing on the research and development of large-category biopharmaceuticals, aiming to upgrade existing treatment methods by replacing biochemical products derived from animal organs, blood, or urine, or in other ways to improve the treatment standards. Baotai Pharmaceutical has established a proprietary technological platform based on unique chassis cell modification technology combined with advanced drug design and biomanufacturing capabilities. The company's technological platform enables it to take a leading position in the development of candidate drugs in four strategic therapeutic areas, with a combined potential market size exceeding 50 billion RMB by 2033 according to Frost & Sullivan: (i) high-volume subcutaneous drug delivery, (ii) antibody-mediated autoimmune diseases, (iii) adjuvant reproductive drugs, and (iv) revolutionary products replacing traditional biochemical products with recombinant biopharmaceuticals. As of the latest practicable date, Baotai Pharmaceutical has built a differentiated research and development pipeline covering the above-mentioned four therapeutic areas, consisting of five investigational drugs in clinical stages (including the company's three core products KJ017, KJ103, and SJ02) and seven preclinical products. Among the core products, (i) KJ017 is a highly glycosylated recombinant human hyaluronidase developed for fast, high-volume subcutaneous drug delivery in combination therapy; (ii) KJ103 is an innovative recombinant immunoglobulin G (IgG) degrading enzyme for treating various immunological diseases and conditions driven by pathological IgG activity. Currently, Baotai Pharmaceutical is conducting clinical trials at different stages to evaluate the efficacy of KJ103 in areas such as kidney transplant desensitization, anti-glomerular basement membrane disease (anti-GBM disease), and Guillain-Barr syndrome (GBS); and (iii) SJ02 is a long-acting recombinant human follicle-stimulating hormone-CTP fusion protein (FSH-CTP) intended for controlled ovarian stimulation (COS) in combination with a gonadotropin-releasing hormone (GnRH) antagonist. All core products of the company have entered late-stage clinical trials or NDA registration stage in China. In addition, the company is actively advancing several other pipeline products, especially innovative recombinant biologics as transformative alternatives to traditional biochemical extract medications, including KJ101 and BJ044. In terms of finances, for the fiscal year 2023, and the nine months ended September 30, 2023 and 2024, Baotai Pharmaceutical achieved revenues of approximately 69.3 million, 50.43 million, and 44.41 million RMB respectively. During the same period, the company incurred comprehensive losses totaling 160 million, 113 million, and 263 million RMB respectively.