New stock news | Chengyi Biotechnology submits application to Hong Kong Stock Exchange, focusing on cardiovascular metabolic diseases and inflammatory diseases.

According to the disclosure by the Hong Kong Stock Exchange on October 8, Chengyi Bio Cayman Limited ("Chengyi Bio") has submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with Jefferies, BofA Securities, and CICC serving as its joint sponsors. The prospectus shows that Chengyi Bio is a global biotechnology company in the clinical stage, dedicated to exploring and developing a new generation of orally administered small molecule drugs to address significant unmet medical needs in the global cardiovascular metabolic disease and inflammatory disease fields. With its proprietary TRANDD platform, the company's product pipeline is tailored for both monotherapy and combination therapy, with a focus on achieving effective results in areas such as weight management (obesity/overweight), metabolic associated fatty liver disease ("MASH"), osteoarthritis (OA) pain, and other cardiovascular metabolic diseases. In particular, the company has developed an orally administered small molecule GLP-1 receptor agonist (GLP-1RA) ECC5004, which can be used as a monotherapy and as the company's core therapy, as well as in combination with other orally administered therapeutic drugs, with the potential to become the best and second orally administered small molecule GLP-1 receptor agonist to be listed on the global market. Furthermore, the company offers a differentiated pipeline of orally administered small molecules with complementary mechanisms, such as the orally administered liver-targeted thyroid hormone receptor (THR-) full agonist ECC4703, which is expected to become the best and second in its class to be listed on the global market for treating MASH, as well as the first liver-targeted selective THR- full agonist for weight management. Additionally, the orally administered small molecule inhibitor ECC0509 of amino oxidase sensitive amine oxidase (SSAO) (also known as vascular adhesion protein-1 (VAP-1)), can be used in combination with GLP-1 receptor agonists to develop its full application value. In terms of competition, the company still faces potential competition from multinational pharmaceutical companies, other biotechnology or specialty pharmaceutical companies. Many of these companies are actively developing and some have successfully commercialized therapies targeting the same targets or indications, including GLP-1 receptor agonists for weight management, treatment of T2D, MASH and related diseases, THR- agonists, and other therapeutic drugs. Any candidate product successfully developed and commercialized by the company will compete with existing approved drugs and future potential new therapies. The company states that there is no guarantee that the core products or any pipeline products being developed will ultimately be successfully developed and brought to market. As of September 30, 2025, the company has no internal production facilities. To date, all production activities have been carried out through partners (including but not limited to contract development and manufacturing organizations (CDMOs)) to support the company's drug development plans. Financially, for the fiscal years 2023, 2024, and January-June 2025, Chengyi Bio had revenues of approximately 36.059 million US dollars, 221 million US dollars, and 557,000 US dollars respectively; during the same periods, the net profits were approximately -52.227 million US dollars, 139 million US dollars, and -201.13 million US dollars respectively.