This article is edited by Sino-Thai International Corning Jerry Biopharmaceutical and Anxin International's PD-1 star pharmaceutical company Corning Jerry IPO list.
Abstract: Corning Jerry, a star PD-1 drug company, announced today that IPO pricing: the public offering is nearly 200 times overbought, with a ceiling price of HK $10.20. Famous institution OrbiMed as a cornerstone investor to bless this issue, Corning Jieridaxin can eat meat? It is understood that OrbiMed has invested in five medical companies in Hong Kong stocks this year, all of them have not broken on the first day, and the listing has been outstanding so far, which can be said to be "full of bullets."
1. Corning Jerry overbought nearly 200 times, with a ceiling price of HK $10.2.
Corning JerryIPO pricing announcement, the company issued 179.4 million shares, each priced at HK $10.20, 1000 shares per share, expected to be listed on December 12.
Corning Jerry was 192.1 times subscribed during the public offering, and the final number of offer shares allocated to the public offering was 89.702 million, accounting for about 50 per cent of the total number of offer shares. A total of 54760 valid applications were received, with a success rate of 40%, and 15 subscriptions were secured in one hand.
2. Can Corning Jerry Daxin eat meat when the OrbiMed is used as the cornerstone?
According to the new information of Futu Securities, Corning Jerickey has a total of 7 investors: OrbiMed, Greenwoods, Qingchi Capital, Morgan Stanley, Taikang Life Insurance, Matthews, Green Leaf Pharmaceuticals.
It is worth noting that OrbiMed, a private equity fund that focuses on health care investment, has invested in five medical companies this year without breaking on the first day.These include Pharmaron Beijing Co., Ltd.* (3759HK), Kangdelai Medical equipment (1501HK), Jinxin Reproduction (1951HK), Hansoh Pharmaceutical Group (3692HK) and CANSINOBIO (6185HK). With the blessing of OrbiMed, can Kang Ning Jie Rui Daxin eat meat?
3. Anti-cancer magic drug PD-1
PD-1 antibody is the biggest focus of tumor immunotherapy in recent years. PD-1/PD-L1 antibody belongs to immune checkpoint blocking drugs.To put it more colloquially, PD-1 antibodies make tumor cells put down their weapons in their hands and then accept attacks from immune cells in the body.This process is simple to say, but it actually resumes the role of tumor cells recognized and killed by the body's own immune system.
Advantages of PD-1 immunotherapy over other therapies:
1: it has a broader anti-cancer effect.
2: much less than the overall side effects of chemotherapy.
3: if effective, it may allow advanced patients to survive for a long time, or even be cured clinically, which is the biggest difference between immune drugs and all other drugs.
Calculated according to sales revenueChina's oncology drug market increased from US $16.2 billion in 2013 to US $23.4 billion in 2018, and is expected to reach US $60.7 billion in 2030.The compound annual growth rate since 2018 is 8.3%. Monoclonal antibody is the fastest growing type of therapy, with a compound annual growth rate of 18.1% from 2018 to 2030.
4. Corning Jerry, a star pharmaceutical company in PD-1
At present, the Corning Jerry differential internal management line is composed of 8 tumor drug candidates, 4 of which are in the clinical stage.
Among the four products under development in clinical period, the fastest progress is KN035 for cholangiocarcinoma.The product, jointly developed by Corning Jerry and Thinkie, is currently conducting phase III clinical trials in China, and the drug is expected to be commercialized by the end of 2020 at the earliest.
KN046 is Corning Jerry's flagship project.It is a bispecific antibody drug targeting PD- (L) 1 and CTLA-4. Compared with monoclonal antibody drugs targeting PD- (L) 1 or CTLA-4, it can induce stronger tumor response and thus has stronger curative effect. In the global R & D pipeline, most of the targets are PD-1/CTLA-4, while KN046 targets PD- (L) 1 and CTLA-4, which is unique. Compared with the combination therapy of monoclonal antibody, KN046 has stronger safety and wider range of use. The company is expected to release KN046 in China and the United States in 2022 and 2021 respectively.
Bispecific antibody (BsAb) is an antibody molecule that can specifically bind two antigens or two epitopes at the same time. In theory, it can exert the synergistic effect of the combination of two monoclonal antibodies, and has advantages in efficacy and safety compared with monoclonal antibodies. It is one of the most popular directions of investment in new drug research and development in the industry.
5. Corning Jerry has no main income for the time being
Corning Jerry did not generate any main revenue because it did not have any commercial products.The company's only income comes mainly from bank interest, government subsidies and other income (including income from one-time sales of protein ingredients to independent third parties).
Among them, R & D expenditure increased from 53.22 million yuan in 2017 to 65.61 million yuan in 2018, of which third-party contracting costs accounted for the largest proportion, resulting in new developments in clinical trials of candidate drugs. In addition, the annual surge in staff costs has also increased the company's administrative expenses from 13.025 million yuan in 2017 to 25.857 million yuan in 2018.
Edit / jasonzeng