August 17, 2022, from Guangzhou, GuangdongGuangzhou Yinming Biopharmaceutical Technology Co., Ltd.MingMed Biotechnology Co.,Ltd (abbreviated as "Yinming biologySubmit a prospectus on the Hong Kong Stock Exchange and propose to list on the Hong Kong main board IPO.
$MingMed Biotechnology Co., Ltd. (810429.HK)$Link to prospectus:
Https://www1.hkexnews.hk/app/sehk/2022/104661/documents/sehk22081701143_c.pdf
Main businessYinming biologyFrom Guangzhou, founded in 2016, as an innovation-driven biopharmaceutical company, committed to the independent discovery and development of innovative drugs, the product portfolio includes a range of diversified and complementary ophthalmic drugs, recombinant protein botulinum toxin, tumor immune drugs, pet immune drugs.
Yinming biologyThe core product, QA102, is a small molecule drug under development for the treatment of dry age-related macular degeneration, a common ophthalmic disease. Phase I clinical trials will be completed in the United States in November 2021. According to Frost Sullivan, QA102 is the first dry age-related macular degeneration developed by a Chinese company and has been approved by the US Food and Drug Administration for clinical trials. As of the last practical date, it is also one of the five dry age-related macular degeneration small molecules in the world that have entered phase II clinical trials. Inmin Biological has a total of three patents and 30 patent applications related to QA102.
As of the last practicable dateYinming biologyThe product pipeline includes 7 major drugs under development, 6 of which are in the clinical stage. The company has a total of 132 applied and pending patents in China and overseas.
Shareholder structureThe prospectus showsYinming biologyIn the pre-IPO shareholder structureHuang MingguoSir, 8.20% of the shares are directly owned and controlled by wholly owned companies.QM HK3.52% of the sharesZhang YanSir, 5.37% of the sharesLiao XuebinDoctor, 7.97% shareholdingWei LaiProfessor, 5.94% shareholdingOuyang HuiDoctor, holding 3.84%Jin MingProfessor, holds 2.48%.Dimiter Stanchev DimitrovDoctor, holding 0.58% through MMD6LLCJohn W. MellorsDoctor, holding 0.19% through JPTWatsonMin JunxiaDoctor, 0.51% shareholdingHu XiaoyuDoctor, holding 0.96%Lu KunSir, 1.41% of the sharesJin RongshengSir, 1.53% of the shares are held through Jacuz Consulting.Yang WuSir, 1.15% of the sharesLu YiminSir, 1.15% through Pathway LogixLiu MiaoSir, through Sixi Zhuhai (Liu MiaoHold 90%) hold 1.17%As concerted actors, the above-mentioned parties form a group of controlling shareholders.
Fructus Schisandrae ZhuhaiensisZhang YanMr. final control), holding 2.35%
Zhuhai Xiaoki (byWei LaiProfessor control), 0.53% shareholding
Employee stock ownership platformZhuhai Yingming holds 6.89% of the shares.
Qianming investment, throughZhuhai Qianming IHolding 7.32%,Zhuhai Qianming II4.95% of the shares
Banyan Capital8.83% through Gaorong YMB and 1.32% by Gaorong YMB-A, for a total of 10.15%
Situational capital1.90% through JCP JC VC Fund and 0.89% by JCP JC NO.2 VC Fund
Huacheng Venture CapitalThrough Huacheng growth Venture Capital 1.39%, Huacheng 15 Venture Capital 0.53%, Huacheng 17 Venture Capital 0.23%, Huacheng Venture Capital 0.59%Guangzhou NanjinHolding 2.42% through Kezhan IISpeed of light in China1.79% through LS MingMedHengqin gold investmentHold 1.60% of the sharesHuajin CapitalThrough the 1.60% shareholding of Zhuhai HuajinYatsen(YSG.US)1.54% through YatsenJifeng CapitalHolding 1.48% through Jifeng InvestmentHonest venture capitalHold 1.02% of the sharesHaisong Capital, through Oceanpine0.96% of the sharesRely on Feng CapitalThrough Hangzhou Yifeng holding 0.89%Taixin Capital, holding 0.86% through Tiger JadeLi AngSir, 0.78% of the sharesChina Taiping Insurance(00966.HK), holding 0.73% through Taiping Medical and Health InvestmentZhongke ChuangxingThrough Secco Angel holding 0.63%.
Company performanceAccording to the prospectus, in the past four months of 2020, 2021 and 2022,Yinming biologyWithout operating income, the corresponding R & D expenditure is 60.91 million yuan, 226.24 million yuan and 89.74 million yuan respectively, and the corresponding net loss is 172.74 million yuan, 7685.2 million yuan and 4174.1 million yuan respectively.
Intermediary teamYinming biologyThe intermediary teams of IPO mainly include: China International Capital Corporation and Credit Suisse as their co-sponsors and overall coordinators; Deloitte as its auditor; Jingtian Gongcheng and Davy as their company's Chinese lawyers and Hong Kong lawyers respectively; Tongshang and Smithfield are their securities firms' Chinese lawyers and Hong Kong lawyers respectively; Tianyuan and Venture Partner,LLC are their Chinese intellectual property lawyers and American and European intellectual property lawyers respectively. Frost Sullivan is an industry consultant.
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