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海创药业(688302)新股梳理

Summary of new shares of Haichuang Pharmaceutical (688302)

華安證券 ·  Apr 1, 2022 13:37  · Researches

Haichuang Pharmaceutical is an international innovative pharmaceutical company that aims to develop best-in-class (best in class) and first-in-class (international first) drugs with significant clinical needs based on technology platforms such as deuterogenation technology and PROTAC targeted protein degradation. The company focuses on innovative drug research and development in major treatment fields such as tumors and metabolic diseases. Currently, the main indications for the products under development are “prostate cancer” and “gout”, which are in clinical phase 3 and phase 2, respectively.

According to Frost & Sullivan's data, as of 2019, there were 32 million people with ventilation in China. It is expected that the number of people with gout will continue to increase in the future, reaching 43.3 million and 56.2 million in 2024 and 2035 respectively. The market size of AR inhibitors for prostate cancer in China has grown from 500 million yuan in 2015 to 900 million yuan in 2019, and it is expected that by 2024, the market size of AR inhibitors for prostate cancer in China will further grow to RMB 23.9 billion by 2030.

Furthermore, clinical trials of the company's products under development are being carried out simultaneously at home and overseas. Both products are expected to be NDA in 2023, so it can be seen that the market prospects are excellent.

The shareholding structure is clear, and capital is favored

As the company's largest shareholder, Chen Yuanwei shares 27.42% through Affinitisco, HinoVolc, and Haichuang Tongli Holdings, and his brother Chen Yuanlun holds 5.16%. Yingchuang Dynamics owns 14.23% of the company's shares, and the actual controller is Song Jiajun; HISCO and Amhiron hold 4.38% and 2.11% respectively, and the remaining 46.72% of the shares are held by 53 other shareholders.

The management and technical team are professional and experienced

The R&D team of Haichuang Pharmaceutical is led by Chen Yuanwei, a national talent expert. They have rich research experience, and have experience in successfully developing many new drugs and working in well-known pharmaceutical companies at home and abroad. It has laid a solid foundation for improving R&D capabilities and core competitiveness. The company's core technical team has in-depth research and understanding of the mechanisms of many major diseases such as cancer and metabolic diseases, and has rich experience and scientific sensitivity in target selection, compound design, biological model design, preclinical research, clinical protocol design and clinical research

The translation is provided by third-party software.


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