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Founded in 2012, the company is a China-based bio-pharmaceutical company specializing in rare diseases, dedicated to the research, development and commercialization of biotech therapies. Currently, the company has built a comprehensive pipeline of 13 drug assets with significant market potential, including three listed products, four clinical drug candidates, one in the IND preparation stage, two in the preclinical stage, and three other gene therapy projects in the pilot identification stage. Our products and candidates target some of the most common rare diseases and rare tumor indications, including, but not limited to, glioblastoma (GBM) and mucopolysaccharidosis type II (MPS II or Hunter syndrome). The incidence of GBM accounts for 46.6% of the total incidence of brain cancer in China. In 20 years, it has reached 54700, with a compound annual growth rate of 2% from 16 to 20 years. It is expected that it will steadily increase to 59800 and 64400 respectively by 25 and 30 years, with a compound annual growth rate of 1.8% and 1.5%, respectively. MPS II is the most common MPS disease in East Asian countries. The number of MPS II cases in Greater China reached 8005 in 20 years and is expected to reach 8175 in 30 years. The company's core product, CAN008, is a CD95-Fc glycosylated fusion protein being developed for the treatment of GBM. The company was approved to conduct a first-line phase 2 trial in GBM patients in China in April 21, and the first patient administration was conducted in China in October 21. The company is currently developing 12 other drug candidates in the pipeline and enjoys the exclusive rights of partner Apogenix to three patents granted and two patent applications for CAN008. The company is also conducting research and development work on indications other than GBM and may file additional patent applications in the short to medium term. GBM is the indication of CAN008. The current targeted therapy for GBM in China includes surgery, radiotherapy combined with TMZ chemotherapy, tumor electric field therapy (TTF), bevacizumab (Avastin) and bevacizumab bioanalogues. The expected increase in the number of GBM cases in China is mainly due to the aging population, ionizing radiation and air pollution in the next decade. At present, there are three GBM targeted drugs on the market in China, and 22 GBM targeted drugs are being developed in China and the world.
CAN008 fusion protein has a competitive advantage over other treatments in the treatment of GBM, including proven new mechanisms of action, higher efficacy and the potential of combination therapy.
The company's income in the first half of 19,20 and 21 was 1.469 million yuan, 12.032 million yuan and 12.192 million yuan respectively, and the company's pre-tax losses were 218 million yuan, 846 million yuan and 344 million yuan, respectively. the vast majority of the losses came from R & D expenses, administrative expenses and changes in the fair value of convertible redeemable preferred shares. The R & D expenditure during the period is 55.383 million yuan, 109 million yuan and 275 million yuan respectively.
After the listing, the company is expected to have a market capitalization of HK $5.167 billion. The company is committed to solving rare diseases with unmet medical needs and a combination of rare diseases with comprehensive and profitable potential. It is recommended to apply carefully.