New Stock News | Tiantian Biomedical has once again submitted documents to the Hong Kong Stock Exchange and has launched eight clinical trials in China related to LP-003.

According to the disclosure by the Hong Kong Stock Exchange on February 25th, TCM Biopharmaceutical (Suzhou) Co., Ltd. (referred to as TCM Biopharmaceutical) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Sinolink (Hong Kong) as the sole sponsor. The company had previously submitted an application to the Hong Kong Stock Exchange on August 21, 2025. Company Overview The prospectus shows that TCM Biopharmaceutical is a clinical-stage biopharmaceutical company, mainly focusing on the independent discovery and development of biologics for allergic and autoimmune diseases. The company has(i) a core product LP-003, an anti-IgE antibody that blocks free IgE in blood and tissue to inhibit IgE-mediated allergic reactions, used in treating allergic diseases such as seasonal allergic rhinitis (AR), chronic spontaneous urticaria (CSU), allergic asthma, and others; and (ii) a main product. As of the latest practicable date, the company has initiated eight clinical trials on LP-003 in China, with two completed and the remaining six ongoing. In a mid-term analysis of the phase II clinical trial for CSU, LP-003 showed superior efficacy in treating CSU compared to omalizumab (rapid onset, good efficacy, and long-lasting effect). Additionally, LP-003 demonstrated good efficacy and safety in a phase II clinical trial for moderate to severe seasonal AR in China with poorly controlled symptoms after standard treatment. Currently, a phase III clinical trial for seasonal AR is being conducted in China. As the first product on the dual-function antibody development platform, the company's main product LP-005 is a bifunctional antibody fusion protein targeting C5 and C3b complement. Multi-target complement inhibitors that act on several key points in the complement pathway have shown potential efficacy compared to single-target inhibitors, with a clear development trend. The company has obtained IND approvals in China for LP-005 for various indications, including PNH, complement-mediated kidney diseases (including but not limited to IgAN, C3G, and LN), and other complement-related indications. The company is currently conducting multiple clinical trials for PNH and complement-mediated kidney diseases in China. Data from an ongoing phase II clinical trial (CTR20242478) showed encouraging efficacy of LP-005 in PNH patients, including two PNH patients who had previously received omalizumab treatment but benefited from LP-005 therapy throughout the trial. In a phase I study in healthy volunteers conducted in China, LP-005 exhibited good safety and tolerability. In addition to the core and main products, the company is developing a dual-function autoantibody LP-00A for allergic diseases, a dual-function B-cell inhibitor LP-00C for B-cell-mediated autoimmune diseases, and a dual-function antibody or fusion protein complement inhibitor LP-00D optimized for specific tissues/organs and indications. Financial Information Revenue: For the fiscal years 2023, 2024, and the nine months ended September 30, 2024, TCM Biopharmaceutical's other income and revenue were RMB 2.33 million, RMB 3.07 million, RMB 2.17 million, and RMB 2.397 million, respectively. Profit: For the fiscal years 2023, 2024, and the nine months ended September 30, 2024, TCM Biopharmaceutical incurred losses and comprehensive losses of approximately RMB 95.778 million, RMB 137 million, RMB 92.334 million, and approximately RMB 138 million, respectively. Industry Overview With the advancement of biopharmaceutical technology, precision medicine and personalized treatment have become the development trend, leading to the emergence of new drugs and providing more options for patients with allergic diseases. The global market for allergic disease drugs has grown from $42.8 billion in 2018 to $68.8 billion in 2024, with a compound annual growth rate of 8.2%, expected to reach $111.4 billion by 2030, with a compound annual growth rate of 7.9% during this period. It is estimated that the global market share of biologics will increase from 40.4% in 2024 to 61.3% in 2030. The market size of allergic disease drugs in China has grown from $3.8 billion in 2018 to $8.1 billion in 2024, with a compound annual growth rate of 13.3%, expected to reach $22.9 billion by 2030, with a compound annual growth rate of 20.1% during this period. It is estimated that the market share of biologics in China will increase from 19.8% in 2024 to 54.1% in 2030. As biologics become more popular in the treatment of allergic diseases, the market penetration of anti-IgE antibody drugs continues to increase, leading to rapid growth in the market size of these drugs. The market size of anti-IgE antibody drugs in China has increased from RMB 1 billion in 2018 to RMB 20 billion in 2024, expected to continue to grow to RMB 121 billion by 2030, with a compound annual growth rate of 32.5% during this period. As of the latest practicable date, three anti-IgE antibody drugs have been approved by the National Medical Products Administration, including one original drug and two biosimilars. According to the Center for Drug Evaluation (CDE), there are six anti-IgE antibody candidates in clinical development in China, including three original drugs and three biosimilars. There are a large number of patients with allergic rhinitis in China, with the number of cases increasing from 232.7 million in 2018 to 245.5 million in 2024, with a compound annual growth rate of 0.9%. By 2030, the number of allergic rhinitis patients in China is expected to reach 261.1 million, with a compound annual growth rate of 1.0%. With the continuous approval of biologics for the treatment of allergic rhinitis and increasing patient compliance, the market for allergic rhinitis in China is experiencing rapid development. The market size of allergic rhinitis drugs in China has increased from RMB 22 billion in 2018 to RMB 46 billion in 2024, expected to grow to RMB 136 billion by 2030, with a compound annual growth rate of 20.8%. There are a large number of patients with allergic asthma in China, with the number of cases increasing from 40.6 million in 2018 to 45.2 million in 2024, with a compound annual growth rate of 1.8%. By 2030, the number of patients with allergic asthma in China is expected to reach 49.7 million, with a compound annual growth rate of 1.6%. With increasing awareness of patient health, continuous approval of biologics, and steady improvement in the penetration rate and treatment compliance of biologics, the market for allergic asthma drugs in China is experiencing rapid development. The market size of allergic asthma drugs in China has increased from RMB 11.2 billion in 2018 to RMB 19.6 billion in 2024, expected to increase to RMB 46.7 billion by 2030, with a compound annual growth rate of 16.0%. Board of Directors Information The board of directors consists of 11 directors, including three executive directors, four non-executive directors, and four independent non-executive directors. Directors serve a three-year term and can be re-elected. Equity Structure Dr. Liu directly holds 14.08% of the company's shares and indirectly controls approximately 8.17% of the equity through the employee stock ownership platform "Suzhou Taiwu," totaling over 22% ownership. Dr. Sun directly holds 11.11% of the shares, and Mrs. Zhou, Dr. Sun's spouse, directly holds 6.07% of the shares; Shanghai Jiuri directly holds 3.59% of the shares, and Xuhua directly holds 1.14% of the shares. Advisory Team Sole Sponsor: Sinolink (Hong Kong) Limited Company Legal Counsel: Hong Kong Law: King & Wood Mallesons; Chinese Law: Hai Run Tianrui Law Firm Sole Sponsor Legal Counsel: Hong Kong Law: Han Kun Law Firm; Chinese Law: Zhong Lun Law Firm Auditors and Reporting Accountants: Ernst & Young Industry Consultant: Frost & Sullivan Consulting (Beijing) Co., Ltd. Shanghai Branch