New Stock News | Weimou Biotech Re-applies to HKEX, Core Products Have All Entered Phase III Clinical Trials

According to the Hong Kong Stock Exchange's disclosure on August 28, Weimou Biotechnology (Zhejiang) Co., Ltd. (hereinafter referred to as: Weimou Biotech) has submitted a listing application to the main board of the Hong Kong Stock Exchange, with CICC acting as its sole sponsor. The company had previously submitted a listing application to the Hong Kong Stock Exchange on February 13. Company Information According to the prospectus, Weimou Biotech was founded in 2016 and is a clinical-stage biotechnology company focusing on ophthalmology. Leveraging its technology platform in areas such as discovery of small molecule drugs for ophthalmic diseases, development of high-end formulations, and translational medicine research, it is developing a product pipeline covering various ophthalmic indications for both the ocular surface and the fundus. The company has two core products, VVN461 (high dosage) and VVN001, both of which have initiated Phase III clinical trials in China. During the track record period, the company engaged contract development and manufacturing organizations (CDMOs) for the production of its candidate drugs for preclinical and clinical use. The company plans to continue collaborating with contract manufacturers after obtaining regulatory approvals to achieve future commercial production of its core products. Additionally, the company may consider establishing internal production capabilities in the future. The company is actively developing commercialization plans, expecting to launch several potential products in the coming years. In formulating these strategies, the company will consider key factors such as pricing, administration regimens, patient economics, social and demographic characteristics, market access, and reimbursement policies. As of the last practicable date, the company has no approved drugs; therefore, it has not established any specific pricing strategy for its candidate products. The primary commercialization approach will focus on collaboration with well-known pharmaceutical companies, supported by a professional internal team with strong medical and scientific backgrounds. During the track record period, the companys suppliers primarily include: (i) CROs for preclinical and clinical studies, (ii) CDMOs for the production of candidate drugs for research purposes, (iii) site management organizations (SMOs) for clinical trials, and (iv) suppliers of laboratory consumables, machinery, and equipment. As of the last practicable date (August 20, 2026), the company holds 6 patents in China and 12 patents overseas. As of the same date, the company has 14 patent applications in China and 36 patent applications overseas. Specifically, regarding core products, the company holds 4 patents in China and 11 patents overseas, with 2 patent applications in China and 31 patent applications overseas. Financial Information Other Income and Gains For the six months ending June 30 for the years 2024, 2025, and 2026, the companys other income and gains were RMB 8.572 million, RMB 7.047 million, and RMB 1.684 million, respectively. Loss for the Period For the year 2024, 2025, and the six months ending June 30, 2026, the companys loss for the period was approximately RMB 202 million, RMB 190 million, and RMB 126 million, respectively. Industry Overview Driven by the continuous development of innovative drugs, the market size of ophthalmic pharmaceuticals in China is rapidly growing from USD 3.2 billion in 2021 to USD 4.5 billion in 2025, with a compound annual growth rate (CAGR) of 9.0%. The market size is expected to reach USD 7.4 billion by 2030, with a CAGR of 10.6% from 2025 to 2030, maintaining robust growth momentum to reach USD 16.3 billion by 2035, achieving a CAGR of 17.2% from 2030 to 2035. The global NIAU drug market is projected to grow from USD 1,604.7 million in 2021 to USD 1,925.2 million in 2025, with a CAGR of 4.7%. Supported by a growing patient population of NIAU and an expanded scope of long-term drug treatment, along with further adoption of higher-value therapies, the market size is expected to increase to USD 2,726.0 million by 2030 and USD 3,916.9 million by 2035. In China, the NIAU drug market size is projected to grow from USD 140.7 million in 2021 to USD 204.7 million in 2025, with a CAGR of 9.8%. It is expected to reach USD 423.5 million by 2030 and USD 1,053.6 million by 2035, driven by an expanding patient population, improved diagnosis rates, and increased treatment penetration, translating into an increasing demand for drug interventions (including higher-value treatment regimens). The number of global patients with postoperative ocular inflammation is expected to increase from 38.8 million in 2021 to 44.2 million in 2025. This growth is mainly driven by an increase in the volume of ophthalmic surgeries, especially cataract and refractive surgeries. The affected population is projected to reach 52.2 million by 2030 and 61.5 million by 2035. Consistent with this epidemiological trend, the global market for postoperative ocular inflammation drugs is expected to grow from USD 1,191.5 million in 2021 to USD 1,470.2 million in 2025, with a CAGR of 5.4%. Benefiting from increased surgical volume and higher adoption rates of drugs for postoperative ocular inflammation treatments, the market size is expected to reach USD 2,681.5 million by 2030 and USD 4,338.0 million by 2035. The following chart illustrates the past and estimated performance of the postoperative ocular inflammation drug market during the indicated period. As of the last practicable date, no innovative drugs for the treatment of SS-DED have been approved in China, nor are there any clinical-stage candidate drugs targeting SS-DED. However, with ongoing research into immune system diseases and dry eye treatments, the SS-DED drug market in China is projected to reach USD 370.4 million by 2035. The following chart illustrates the past and estimated performance of the SS-DED drug market in China during the indicated period. The number of patients with moderate to severe DED worldwide rose from 322.0 million in 2021 to 349.5 million in 2025. It is estimated that the global DED population will reach approximately 386.3 million by 2030 and 425.3 million by 2035. The number of DED patients in China has increased from 107.5 million in 2021 to 113.7 million in 2025, with an estimated 121.6 million by 2030 and 130.1 million by 2035. Current epidemiological studies in China indicate a relatively high prevalence of dry eye disease, typically ranging from 21.0% to 52.4%. Board of Directors Information The companys board of directors comprises 7 members, including 2 executive directors, 2 non-executive directors, and 3 independent non-executive directors. Equity Structure As of the last practicable date, Dr. Shen is the largest single shareholder of the company, holding approximately 15.92% of the shares. Huzhou Xiulai holds approximately 9.22% of the shares. Longpan entity collectively holds approximately 13.21% of the shares. HSG Venture holds approximately 7.15% of the shares. Hangzhou Qiandai holds approximately 6.50% of the shares. Other previous investors collectively hold approximately 48.00% of the shares. Intermediary Team Sole Sponsor: China International Capital Corporation Hong Kong Securities Limited Company's legal advisers: Regarding Hong Kong and US law: DLA Piper; regarding Chinese law: Global Law Office; regarding Chinese intellectual property law: Global Law Office; regarding US intellectual property law: Venture Partner, LLC Legal advisers for the Sole Sponsor: Regarding Hong Kong and US law: Baker McKenzie; regarding Chinese law: Jingtian & Gongcheng Auditor and Reporting Accountant: Ernst & Young Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Consultant: SOMERLEY CAP Limited