The Zhitong Finance App learned that according to the Hong Kong Stock Exchange disclosure on February 9, Shenghe Biotech Holdings Limited (abbreviation: Shenghe Biotech) submitted a listing application to the main board of the Hong Kong Stock Exchange, and CICC is its sole sponsor. According to reports, the company submitted a listing application to the Hong Kong Stock Exchange on August 3, 2023.

According to the prospectus, Shenghe Biotech was founded in 2018 and is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of innovative biologics for the treatment of cancer and autoimmune diseases. The company has three core products, namely IAP0971, IAE0972 and IAH0968, all developed in-house. IAP0971 and IAE0972 are both antibody cytokines, and the company has completed phase I clinical trials for advanced solid tumors, including non-small cell lung cancer (NSCLC) and colorectal cancer (CRC). IAH0968 is an antibody-dependent cell-mediated cytotoxicity (ADCC) enhanced monoclonal antibody (mAb). The company has initiated phase II clinical trials for biliary tract cancer (BTC) and CRC. As of the last practical date, the company has nine pipeline products. In addition to the core products, three of them are in the clinical stage and also focus on cancer treatment.

It is important to note that Shenghe Biotech warned investors in its prospectus that there is no guarantee that the company will eventually be able to successfully develop and sell core products or any pipeline products.

Shenghe Biotech's core business model includes in-house discovery, development and commercialization of antibody cytokines and other immunotherapies that regulate the immune microenvironment by directly regulating the innate and adaptive immune systems to address market needs in the field of oncology and autoimmune diseases. The company also recognizes that partnerships will be an important source of supplementing the company's internal resources, enabling the company to fully implement the company's global strategy. Therefore, the company will actively seek opportunities to cooperate with leading international pharmaceutical companies to promote overseas clinical research on the company's products through external licensing arrangements. The company will also expand the company's international registration team to ensure the company's global clinical development and registration plans, and strengthen the company's main products, particularly the company's antibody cytokine pipeline products, including IAP0971, IAE0972, and IBB0979.

On the financial side, for the nine months ended September 30 in 2021, 2022 and 2023, Shenghe Biotech lost approximately RMB 706.32 million, RMB 51.988 million and RMB 75.05 million respectively.