New Stock News | Sichuan Biokin Pharmaceutical (02615) starts its IPO, officially listed on November 17th, and is expected to be included in the Stock Connect on the same day.

On November 7, Sichuan Biokin Pharmaceutical (02615) announced that it has started the global public offering of its H-shares and plans to list on the main board of the Hong Kong Stock Exchange. This signifies that the biotechnology sector in the Hong Kong capital market is welcoming another major player. According to the announcement, the basic number of H-shares to be issued in this global offering by Sichuan Biokin Pharmaceutical is 8,634,300 shares. Among them, 863,500 shares are preliminarily arranged for public offering in Hong Kong (subject to reallocation), accounting for approximately 10% of the total global offering; and 7,770,800 shares are for international offering (subject to reallocation), accounting for approximately 90% of the total global offering. The price range for the issuance is preliminarily set at HK$347.50 to HK$389.00. According to Article 72 of the "Implementation Measures of Shanghai Stock Exchange Hong Kong Stock Connect Business," the H-shares are eligible to be included in the Stock Connect of Shanghai Stock Exchange as early as the listing date. This means that Sichuan Biokin Pharmaceutical is expected to be included in the Stock Connect on the day of its H-share listing. In the process of issuing H-shares this time, Sichuan Biokin Pharmaceutical not only has the joint sponsorship of Goldman Sachs, JP Morgan, and CITIC SEC, but also attracted well-known cornerstone investors such as Bristol-Myers Squibb (BMS) and top institutions like AllBright and DeFoe. It can be said that its lineup is strong. Sichuan Biokin Pharmaceutical focuses on the global frontier of biopharmaceuticals, aiming to address unmet clinical needs. In the field of oncology large molecule therapy (ADC/GNC/ARC), it has leading innovative research and development capabilities globally, global clinical development, and scale production supply capabilities, and is expected to become a comprehensive biopharmaceutical company with global commercial capabilities by 2029. Sichuan Biokin Pharmaceutical has established research and development centers in the United States and China, which are mainly responsible for early product development and subsequent clinical research and development. It has built a global leading innovative drug development platform with global equity and complete independent intellectual property rights (the HIRE-ADC platform), a global leading innovative multi-specific antibody drug development platform (GNC platform), a specific enhanced bispecific antibody platform (SEBA platform), and an innovative ARC (nuclear drug) research and development platform (the HIRE-ARC platform). Based on the above platforms, Sichuan Biokin Pharmaceutical has successfully developed three Phase III clinical assets (including two ADC drugs and one bispecific drug), 14 early-stage core clinical assets (including eight ADC drugs, four GNC drugs, one bispecific drug, one ARC drug, and a series of innovative drug assets in preclinical development. Currently, Sichuan Biokin Pharmaceutical has carried out nearly 90 clinical trials worldwide, including 15 Phase III clinical studies conducted domestically and 10 clinical studies conducted in the United States. Among them, Iza-bren (BL-B01D1) is a globally first-in-class, new concept, and only EGFRHER3 bispecific ADC that has entered Phase III clinical trials developed independently by Sichuan Biokin Pharmaceutical. It has significant global clinical value and market potential, and is expected to become a super heavyweight bomb. Currently, Iza-bren is used to treat advanced nasopharyngeal cancer, and the interim analysis of the Phase III clinical trial (BL-B01D1-303) reached the primary study endpoint. It was selected as LBA by ESMO in 2025 and released excellent clinical data. It was also included in the priority review by the National Medical Products Administration (NMPA) in September 2025, with commercialization expected to begin domestically next year. In December 2023, Sichuan Biokin Pharmaceutical reached a strategic cooperation with BMS with an initial payment of 800 million US dollars and a potential total transaction value of up to 8.4 billion US dollars, breaking the record in the ADC field. The company has already received 800 million US dollars as an initial payment. In the third quarter of 2025, the cooperative Phase II/III trial reached a milestone, triggering a payment of 250 million US dollars. Another important drug in development by Sichuan Biokin Pharmaceutical, T-Bren, is an innovative ADC targeting HER2 with best-in-class potential in its category, demonstrating significant anti-tumor efficacy in clinical trials.