Financial Associated Press, June 28 (Editor Hu Jiarong) Immune Onco Biomedical Technology Co., Ltd. (hereinafter referred to as Immune Onco) submitted a listing application to the Hong Kong Stock Exchange on the 27th. In addition, Morgan Stanley and CICC jointly sponsored people.
According to the prospectus, Immune Onco was established in June 2015 and is committed to developing a new generation of tumor immunotherapy.In addition, the company is one of the few biotech companies in the world that can systematically exploit innate and adaptive immunity.
According to Immune Onco financial data, the company noted that no products are currently approved for commercial sale and that no revenue has been generated from product sales.In 2020 and 2021, the company's losses for the year were RMB 661 million and RMB 733 million, respectively, which were mainly attributable to R&D expenses, administrative expenses, and the impact of losses from changes in fair value of financial liabilities measured at fair value through profit or loss for the current period. .
Note: Immune Onco's financial data for the period 2020-2021
The core product IMM01 has attracted much attention, and the future scale is expected to exceed 10 billion US dollars
Immune Onco has built a comprehensive pipeline of more than a dozen drug candidates targeting key innate and adaptive immune checkpoints, including five in clinical stage (with seven ongoing clinical studies), three In the IND preparation stage and multiple drug candidates in the discovery and preclinical stages.
Note: the company's main products
Among Immune Onco’s many products, the new generation of CD47 targeting molecule IMM01 (SIRPα-Fc fusion protein) is the company’s core product. This product is the first SIRPα-Fc fusion protein to enter the clinical stage in China.IMM01 is being developed as a single agent and in combination with other drugs for the treatment of a variety of hematological and solid tumors.
According to Frost & Sullivan, Immune Onco is the only two drug R&D companies developing CD47-targeting molecules in the world that have observed complete remission (CR) in monotherapy clinical trials and have One of the companies with a well tolerated safety profile.
It is reported that the currently approved immunotherapies mainly target T cell immune checkpoints such as PD/PD-L1, CTLA-4 and LAG-3, among which the CD47/SIRPα pathway has been clinically proven and has become the most attractive new generation of cancer One of the targets of immunotherapy.According to Frost & Sullivan, the global market size of CD47/SIRPα-targeted therapy is expected to reach US$13.1 billion and US$33.7 billion in 2030 and 2035, respectively.It is estimated that in 2030 and 2035, the CD47/SIRPα targeted therapy market in China will increase to US$2.3 billion and US$6.4 billion, respectively, with a higher growth rate than the global market.
Immune Onco's IMM01 is being developed as a single agent and in combination with other drugs for the treatment of a variety of hematological and solid tumors, and has completed a Phase I dose escalation study of IMM01 in patients with relapsed or refractory lymphoma .In addition, the company has four patents granted in China; three patents granted in the United States and three patent applications granted in the United States; seven patents granted in other regions; and 44 patent applications.
Many war investors behind Immune Onco have joined
According to Immune Onco’s official website, the company received $300,000 in seed rounds in 2015; $4.5 million in pre-A rounds; $13 million in A rounds; $6.5 million in pre-B rounds, plus B+ Received $89 million and nearly $100 million in Series C and Series C financing.
In the above financing rounds, many well-known institutions have joined, such as Sunshine Insurance, Founder Hesheng, Lilly Asia Fund (LAV), Licheng Assets and other investors.
The prospectus also announced the use of the financing, which will be used for the ongoing and planned clinical trials of the core product IMM01 (SIRPα-Fc fusion protein), the preparation of registration applications and the planned commercial listing; construction of Shanghai Zhangjiang Science and Technology Co., Ltd. new production facility in the city; working capital and general corporate purposes.
Not yet profitable
Immune Onco noted that the company currently relies heavily on the success of its clinical-stage drug candidates.Failure to successfully complete the development of drug candidates, obtain regulatory approvals and achieve commercialization, as well as significant delays in these activities, could affect the company's business, financial condition, results of operations and prospects.At the same time, the company has incurred substantial net losses since its establishment and is expected to continue to incur net losses and may not be able to generate sufficient revenue to achieve or maintain profitability.
