- First Day Closed at HK$7.14, HK$0.01 Higher Than the Offer Price
- Representing an Increase of Approximately 0.14%
The biopharmaceutical company focusing on oncology therapeutics – Lepu Biopharma Co., Ltd. (Lepu Biopharma or the Company, HKG: 2157), has successfully listed and commenced dealings on the Main Board of the Stock Exchange of Hong Kong Limited (Hong Kong Stock Exchange) today, under the stock code of 2157 and inboard lot of 1,000 H shares each.
The share price of the Company closed at HK$7.14 per H share, with an intra-day high of HK$7.34 per H share. A total of approximately 15.8 million H shares were traded, with an aggregate turnover of approximately HK$112 million.
Lepu Biopharma is listed on the main board of HKEX, with 126,876,000 H shares being offered globally, including 12,688,000 Hong Kong Offer Shares, 114,188,000 International Placing Shares. The net proceeds received are estimated at approximately HK$804.2 million from the Global Offering, after deduction of underwriting fees, commissions and other estimated expenses payable by the Company in connection with the Global Offering. The net proceeds are intended for funding the core products, funding the other key clinical-stage drug candidates and the key pre-clinical drug candidates, acquiring potential technologies and assets and expanding our pipeline of drug candidates, including discovery of new drug candidates and business development activities and to fulfill the continuous payment obligation under the acquisition of HX008 from HanX, and general corporate purposes.
Lepu Biopharma has three synergistic core technology platforms around its pipeline specializing in ADC technology, antibody discovery and advanced process and analytical development. The company also advances the clinical development of its candidates including ADC candidates, oncolytic virus candidates and combination therapies, plans to stay focused on the development of innovative products, create a pipeline for novel therapies, design and develop innovative products and build advanced technology platforms.
While Lepu Biopharma advancing its drug candidates, it has mapped out and is implementing the manufacturing and commercialization strategies. The company commenced the operation of a 2,000L GMP-compliant antibody production line in Beijing in 2019 in support of clinical trials for the antibody products. It is building a production line for oncolytic virus drugs in Beijing with a designed capacity of 200L, as well as a biologics manufacturing center in Shanghai Biotech Park, including a production line with a designed capacity of 12,000L initially, coupled with laboratories and manufacturing facilities, and one production line with capacity of 6,000L under construction.
The Founder, Chairman and Executive Director of Lepu Biopharma Co., Ltd. Dr. Pu Zhongjie said, “Today, we are very delighted to witness Lepu Biopharma to be officially listed on the Hong Kong Stock Exchange. This is an important milestone in our history of development as well as a starting point of our new journey. We sincerely appreciated the long-term trust and cooperation from customers and shareholders. We would also like to thank our partners, the Hong Kong Stock Exchange and the Securities and Futures Commission for all the great support. With solid R&D capabilities, advanced development platforms and comprehensive pipeline, we will seize the future trend of the whole industry, strengthen our position in the market with our competitive advantages and create greater value for shareholders and investors.”
About Lepu Biopharma Co., Ltd.
Lepu Biopharma was incorporated in 2018 and is a biopharmaceutical company focusing on oncology therapeutics. The Company has designed a pipeline with a range of oncology products. As of [the Latest Practicable Date], the Company had a pipeline including eight clinical-stage drug candidates, three pre-clinical drug candidates and three clinical-stage combination therapies of the candidates in the pipeline. In addition, the Company focuses on the development of innovative drugs including ADC and oncolytic virus. According to Frost & Sullivan, the Company house the leading ADC drug candidate pipeline in China in terms of the number of clinical-stage ADC drug candidates. As of [the Latest Practicable Date], the Company had initiated 28 clinical trials, among which three had entered the registration trial phase and two were ongoing in the U.S. In terms of patents, as of [the Latest Practicable Date], Company had 11 issued patents in China, 20 in the U.S., nine in Japan, seven in the European Union and one in each of South Korea, Australia, Chile, India, Colombia, Indonesia, New Zealand and Israel, and 74 pending patent applications, consisting of 15 in Mainland China and 59 in overseas jurisdictions such as the U.S., Japan, India, South Korea, Australia, Israel, India and the European Union. The patent portfolio of the Company spans across mAb structure, targeted epitope, CMC, usage, biopharmaceutical formulation and indications.
For more information on Lepu Biopharma, please visit the website https://www.lepubiopharma.com/