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To-be Listed
Name
/
Code
Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date
Listing Date
REFIRE
02570.HK
Electrical Components & Equipment 145-165 20 3,333 2024/12/03 2024/12/05 2024/12/06
Dmall
02586.HK
Application Software 30.21 100 N/A 2024/12/03 2024/12/05 2024/12/06
Summary
We are a clinical-stage biopharmaceutical company dedicated to the discovery and development of innovative and differentiated small molecule oncology therapies. Since our inception in 2016, we have strategically designed and developed a pipeline of 14 candidates focused on oncology, including five candidates at clinical stage. Our product candidates are primarily small molecules that focus on small molecule precision oncology and small molecule immuno-oncology therapeutic areas. We have two Core ProductCandidates, ABSK011 and ABSK091, and 12 other pipeline product candidates. ABSK011 developed in-house is a potent and highly selective small molecule inhibitor of fibroblast growth factor receptor 4 (FGFR4); and ABSK091, licensed from AZ, and previously known as AZD4547, is a molecularly targeted product candidate and a highly potent and selective inhibitor of FGFR subtypes 1, 2 and 3. Our Core Product Candidates are primarily being developed for HCC, UC and GC at current stage.

We face fierce competition from existing products and product candidates under development in the entire oncology market, not only in the FGFR inhibitor market. In addition to approved oncology therapy options there are a large number of competing drug candidates currently under different clinical stages. According to Frost & Sullivan, the field of cancer treatment has developed significantly in the past decade. Treatment methods such as surgery, radiotherapy and chemotherapy have been widely utilized to treat cancer. Alternative treatments such as precision oncology and immuno-oncology are generally used only if the other therapy options are not suitable or effective on patients. Among the alternative treatments available, small molecule precision oncology therapies act on specific targets on cancer cells that are associated with cancer growth. Small molecule precision oncology therapies include selective inhibitors such as FGFR inhibitors, and non-selective kinase inhibitors and other types of inhibitors. Cactivities, and therefore may compete with the selective FGFR inhibitors. There are currently four non-selective kinase inhibitors approved for HCC, namely regorafenib, sorafenib, lenvatinib, cabozantinib, and no non-selective kinase inhibitors approved for UC or GC.

Selective kinase inhibitors targeting FGFR may target different FGFR subtypes, such as pan-FGFR or specific FGFR subtypes (e.g. FGFR4). In addition, there are currently three pan-FGFR inhibitors approved, namely pemigatinib, erdafitinib and infigratinib, and no FGFR inhibitors targeting specific FGFR subtypes approved. In addition, there are a total of 16 pan-FGFR inhibitor drug candidates (other than ABSK091) and nine FGFR4 drug candidates (other than ABSK011) under various stages of clinical development. For small molecule immuno-oncology drugs, for CSF-1R pathway, pexidartinib was the only CSF-1R inhibitor approved by the FDA and surufatinib (an angio-immuno kinase inhibitor targeting VEGFR, FGFR1 and CSF-1R) was the only NMPA approved drug that could target CSF-1R; in addition, a total of six drug candidates (other than ABSK021) were under various stages of clinical development globally; for CXCR4, plerixafor was the only marketed drug globally but was not approved for oncology indications, and three drug candidates, including our ABSK081 (mavorixafor), are under various stages of clinical development.

Our Core Product Candidates are FGFR4 and pan-FGFR inhibitors, respectively, which are considered to be small molecule precision oncology drug candidates. Our other product candidates are primarily small molecule precision oncology and small molecule immunooncology drug candidates. As a result, our drug candidates may not be used unless the conventional therapy options are not suitable or effective on patients. In addition, our small molecule precision oncology and small molecule immuno-oncology drug candidates face competition from the approved drugs and may not be selected unless the other approved drugs are not suitable or effective on patients. Furthermore, we compete with the various drug candidates under development and we may not successfully develop and/or market our products before the other drug candidates, or at all. Our Core Product Candidates are still at an early stage of development. We have completed a Phase Ia clinical trial for ABSK011 and a Phase I clinical trial for ABSK091, which have only generated limited safety and efficacy data that may not be used for a meaningful comparison against the data of the other drugs. In addition, FGFR inhibitors have been under development since at least 2014, according to the earliest post date of other clinical stage FGFR inhibitors, and only three pan-FGFR inhibitors have been approved, which implies that the development of FGFR inhibitors face significant challenges and uncertainties.

Our Company was founded with a focus on drug discovery, which we believe is the foundation of the entire drug development process. Our discovery capability is driven by an experienced team with solid drug discovery track record and our approach to identify high-quality molecules. Our three co-founders, Dr. XU Yao-Chang, Dr. YU Hongping and Dr.

CHEN Zhui, collectively have made contributions to dozens of discovery programs, a number of which led to successful commercialization, such as Ameile (almonertinib), Cymbalta (duloxetine), Balversa (erdafitinib), Reyvow (lasmiditan), Fu Laimei (PEG-loxenatide), Kisqali (ribociclib), Xinfu (flumatinib) and Venclexta (venetoclax). Leveraging the experience of our R&D team, we have built an innovation-driven discovery platform with comprehensive capabilities in cancer genomics and screening, computational and medicinal chemistry, and translational and biomarker science, which enables us to discover high-quality assets with efficiency. As of the Latest Practicable Date, our R&D team had advanced the first eight discovery programs into the IND-enabling stage at about two pre-clinical candidates per year since 2017, and continues to advance all of the other drug assets and programs into the next stage. We believe our pre-clinical candidates will lay the foundation for our future success and global growth.

Source: Abbisko-B (02256) Prospectus (IPO Date : 2021/09/30)
Listing Market MAIN
Industry Biotechnology
Background Others
Major Business Area N/A
Corporate Information
Substantial Shareholders XU Yao-Chang & Associates (17.00%)
Shi Yi (8.98%)
Qiming Corporate GP VI, Ltd. (7.15%)
Futu Trustee Limited (6.21%)
Directors XU Yao-Chang (Chairman and Chief Executive Officer and Executive Director)
CHEN Zhui (Senior Vice President and Executive Director)
YU Hongping (Senior Vice President and Executive Director)
TANG Yanmin (Non-Executive Director)
SUN Hongbin (Independent Non-Executive Director)
SUN Piaoyang (Independent Non-Executive Director)
WANG Lei (Independent Non-Executive Director)
Company Secretary CHAN Yin Wah
Yu Hongping
Principal Bankers Ping An Bank
Solicitors Davis Polk & Wardwell
Auditors Ernst & Young
Registered Office 40th Floor, Dah Sing Financial Centre, No.248 Queen’s Road East, Wanchai, Hong Kong
Share Registrars Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No (852) 2862-8628
Internet Address http://www.abbisko.com
Email Address [email protected]
Tel No (86 21) 6891-2098
Fax No
 
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