New stock news | Exegenesis Bio Inc. submits listing application to the Hong Kong Stock Exchange. The company possesses globally leading delivery vehicle technology.

On January 14th, Exegenesis Bio Inc. submitted a listing application to the Hong Kong Stock Exchange, with CMB International as its exclusive sponsor. Company Overview According to the prospectus, Exegenesis Bio Inc. is a biopharmaceutical company specializing in gene therapy and oligonucleotide drugs. According to Frost & Sullivan data, the company has a leading global delivery vector technology. Since its registration in 2019, Exegenesis Bio Inc. has developed a diversified and scalable product pipeline through its self-developed AAVarta (AI-assisted AAV capsid evolution discovery platform) and SODA (Silencing Oligonucleotide Design Approach) technology platforms. This includes (i) the company's core candidate product EXG001-307 (SMA1 type), a potential best-in-class therapy for Spinal Muscular Atrophy (SMA) type 1, and (ii) two key candidate products, EXG102-031 (an AAV-based gene therapy for wet age-related macular degeneration (wAMD)) and EXG202 (an AAV-based gene therapy for retinal neovascular diseases (including wAMD, diabetic macular edema (DME), and retinal vein occlusion (RVO)). The company's core candidate product EXG001-307 (SMA1 type) is a potential best-in-class candidate product for treating SMA1 type, designed to reduce the risk of systemic exposure and improve overall safety while restoring the therapeutic effect of SMN physiological balance expression in motor neurons throughout the central nervous system, which is a major limitation of current gene therapies available for SMA. EXG001-307 (SMA1 type) received IND approval from the National Medical Products Administration in June 2022 for the treatment of SMA1 type. The company has completed a phase I/II clinical trial in China administering EXG001-307 (SMA1 type) via intravenous injection to evaluate its safety, tolerability, and preliminary efficacy in SMA1 patients. Additionally, Exegenesis Bio Inc.'s key candidate products, EXG102-031 and EXG202, are two different single-dose, AAV-based gene therapies aimed at overcoming the limitations of existing anti-VEGF biologics, including the need for repeat dosing due to short half-life and incomplete pathway inhibition leading to suboptimal efficacy. Financial Information Revenue During the historical periods, the company's investigational candidate products did not receive regulatory approval or commercial approval. As of December 31, 2024, the company had no revenue. For the nine months ended September 30, 2025, the company recorded revenue of RMB 1.299 million, generated from providing research and development services to an overseas customer. The customer engaged the company to provide rAAV with proprietary carriers to test the impact of the company's carriers on the efficacy of their products. Research and Development Expenses For the year 2024 and the nine months ended September 30, 2025, the company's research and development expenses were RMB 145 million and RMB 81.642 million, respectively. Industry Overview The global gene therapy market is expected to grow from approximately $2.8 billion in 2024 to $12.6 billion in 2030, with a compound annual growth rate of 28.4%, and further increase to $32 billion in 2035, with a compound annual growth rate of 20.4% from 2030 to 2035. From 2020 to 2024, no gene therapy products were launched in China. The Chinese gene therapy market is expected to grow from approximately RMB 0 billion in 2024 to RMB 2.3 billion in 2030, with a compound annual growth rate of 123.0%, and further increase to RMB 11.6 billion in 2035, with a compound annual growth rate of 37.7% from 2030 to 2035. Spinal Muscular Atrophy (SMA) is an autosomal recessive lower motor neuron disease characterized by progressive proximal muscle weakness and atrophy of limb muscles. The current treatment options for SMA are mainly divided into three categories: AAV-based gene therapy, antisense oligonucleotides (ASO), and small molecule therapy. The main marketed products are Zolgensma (onasemnogene abeparvovec, an AAV9-based gene therapy), Spinraza (nusinersen, an intrathecal ASO), and Evrysdi (risdiplam, an oral small molecule splicing modifier). These three products have been approved for the treatment of SMA in multiple major markets worldwide. The global SMA drug market is expected to grow from $3.308 billion in 2020 to $4.641 billion in 2024, with a compound annual growth rate of 11.2%, and is expected to further increase to $5.931 billion in 2030, with a compound annual growth rate of 4.2% from 2024 to 2030, and to $9.469 billion in 2035, with a compound annual growth rate of 9.8% from 2030 to 2035. The Chinese SMA drug market is expected to grow from RMB 0.700 billion in 2020 to RMB 5.509 billion in 2024, with a compound annual growth rate of 67.5%, and is expected to increase to RMB 16.877 billion in 2030, with a compound annual growth rate of 20.5% from 2024 to 2030, and further increase to RMB 32.945 billion in 2035, with a compound annual growth rate of 14.3% from 2030 to 2035. Directorate Information The company's board of directors will consist of seven directors, including three executive directors, one non-executive director, and three independent non-executive directors. Equity Structure On August 9, 2019, the company's controlling shareholders Dr. Wu, Dr. Ye, Ms. Wang, and Landes Therapeutics Ltd entered into a shareholders' agreement, through which the controlling shareholders would act unanimously through their votes at the company's board meetings and general meetings. On January 6, 2026, the controlling shareholders Dr. Wu, Dr. Ye, Ms. Wang, and Landes Therapeutics Ltd, through the unanimous action arrangement, have the right to exercise or control a total of 31.16% of the voting rights at the company's general meetings. Sponsor and Advisors Exclusive Sponsor: CMB International Financial Co., Ltd. Company Legal Advisors: Hong Kong Law: Morgan Lewis law firm; U.S. Law: Morgan Lewis law firm; Chinese Law: Zhong Lun law firm; Cayman Islands Law: Ogier Exclusive Sponsor Legal Advisors: Hong Kong Law: Tian Yuan law firm; Chinese Law: Jingtian & Gongcheng Auditors and Reporting Accountants: Deloitte Touche Tohmatsu Certified Public Accountants Independent Industry Consultant: Frost & Sullivan (Beijing) Consultancy Co., Ltd. Compliance Advisors: Mango Financial Co., Ltd.