Zhitong Financial APP learned that according to the disclosure of the Hong Kong Stock Exchange on Aug. 25, Pharmaceutical Jie an Kang (Nanjing) Technology Co., Ltd. (TransThera Sciences (Nanjing), Inc.) Submit the listing application to the main board of the HKEx, with Jefferies, Huatai International and China Renaissance Capital Investment as co-sponsors.
Company profile
Drug Jie Ankang (Nanjing) Technology Co., Ltd. is an R & D-oriented, clinical-stage global biopharmaceutical company focusing on the discovery and development of small molecule innovative therapies in the areas of oncology, inflammation and cardiovascular disease. According to Frost Sullivan, Jie Ankang is one of the first Chinese developers committed to innovative small molecules to establish a global R & D and clinical development platform.
The company's global strategy is fully validated in its clinical development plan for its core product, TT-00420, which is developed internally. The company has completed the Phase I study of TT-00420 with the help of clinical resources in the United States and China, including those provided by the company's academic and industry partners. TT-00420 is a kinase spectrum selective kinase inhibitor. Its unique target combination characteristics and mechanism enable it to effectively treat patients with highly heterogeneous tumors, such as cholangiocarcinoma and TNBC patients without clear biomarkers.
Drug Jie Ankang's global partners include LG Chem, Teijin, Roche and Foundation Medicine.
Product research and development
Jie Ankang focuses on the development of highly differentiated small molecular therapies. The company carefully selects and evaluates potential new drug targets with a strong correlation between biology and disease. Through comprehensive competitive analysis, the company can identify the key problems of existing treatments and competitive products, and establish clear differentiated target product characteristics for the company's clinical drug candidates to solve the problems of existing treatments. This method provides the company with a solid scientific foundation and enables the company to maintain a leading position in the highly competitive drug market.
During the track record period, the company's drug discovery time ranges from 12 to 36 months, and the company advances drug candidates to the clinical stage within 12 months. The company started from scratch and promoted the four self-developed drug candidates to clinical trials in China and the United States within five years.
Product pipeline
The company's product line includes five oncology-focused programs and four other inflammatory and cardiovascular disease-focused programs, four of which are in the clinical stage, and the company expects to submit an IND application for another product in August 2021. The following figure describes the company's pipeline and outlines the development of the company's clinical phase candidates and selected preclinical phase candidates as of the final practical date:
Financial overview
At present, no product of Jie Ankang has been approved for commercial sale and does not generate any revenue from the sale of the product. During the track record period, the company's revenue mainly includes down payments and milestone payments related to its external authorized product TT-01025. Since September 2020, the company has recognized revenue from voluntary payment and the first and second milestone payments. During the track record period, the company has not yet made a profit and recorded an operating loss. For the years ended 31 December 2019 and 2020 and the five months ended 31 May 2021, the Company incurred losses of RMB 111 million, RMB 85.372 million and RMB 204 million, respectively. The company recorded a loss due to a large number of R & D costs and administrative expenses.
