Hong Kong, Sept 25, 2023 – (ACN Newswire via SeaPRwire.com) – Wuhan YZY Biopharma Co., Ltd. (“YZY Biopharma” or the “Company”, together with its subsidiaries, the “Group”, stock code: 2496.HK), is officially listed and commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) today.
The total number of offer shares under the Global Offering amounts to 11,001,200 shares (assuming the Over-allotment Option do not exercise), with the final offer price determined at HK$16 per offer share. The net proceeds from the Global Offering to be received by the Company, after deduction of the underwriting fees and expenses paid and payable by the Company in connection with the Global Offering, are estimated to be approximately HK$121.4 million. The Hong Kong Public Offering was over-subscribed, where the total number of valid applications amounted to approximately 13.81 times of the total number of Hong Kong offer shares initially available for subscription under the Hong Kong Public Offering. The offer shares initially offered under the International Offering have also been over-subscribed by approximately 1.57 times. The final numbers of Hong Kong offer shares and International offer shares are respectively 1,100,200 and 9,901,000, each representing approximately 10% and 90% of the total number of the offer shares initially available under the Global Offering before any exercise of the Over-allotment Option.
As a biotechnology company dedicated to developing BsAb-based therapies, YZY Biopharma’s core business model is to in-house discover, develop and commercialize BsAb-based therapies to treat cancer-associated complications, cancer and age-related ophthalmologic diseases. The Company carefully selects potential targets for its BsAbs, and has adopted a differentiated clinical development strategy to maximize the clinical and commercial value of its drug candidates. At present, the Company has designed and developed a pipeline of seven clinical-stage drug candidates ; and has developed three T cell-engaging BsAbs, namely M701, M802 and Y150, to simultaneously bind to T cells and tumor cells via tumor-cell specific antigens in immunotherapy. In addition, the Company is also focusing on the development of the TME-targeted BsAbs, including Y101D and Y332. With the increasing trend of population aging and growing cancer incidences in China, it is expected that the clinical demands for effective oncology drugs will increase significantly. M701 (EpCAM × CD3 BsAb) – YZY Biopharma’s core product, now has been selected for the “National Major New Drug Innovation” program under the 12th Five-Year Plan, which the Company believes could be an advantage for its future inclusion into the National Reimbursement Drug List.
The co-founder, chairman, executive director and CEO of YZY Biopharma, Dr. Zhou Pengfei, has over 33 years of extensive experience in the healthcare and pharmaceutical industries, focusing on oncology treatment and innovative drug development. The Company has received supports from CSPC Pharmaceutical Group Limited (“CSPC”), a well-known pharmaceutical company in China in 2018. NBP Pharmaceuticals, a subsidiary of CSPC, reached an equity investment cooperation with YZY Biopharma. With the combined resource of CSPC, the Company’s R&D pipeline construction and clinical research will be improved, and a new situation in the field of tumor immunotherapy will be created.
Dr. Zhou Pengfei, the co-founder, chairman, executive director and CEO of YZY Biopharma said, “Today marked a milestone in YZY Biopharma’s development. YZY Biopharma’s successful debut in the Hong Kong stock market shows global investors’ profound recognition for our strategic model, growth potential, product pipeline and management team. We are so proud of it and would like to express our gratitude to investors for their trust in and support to YZY Biopharma. Looking forward, the Company will adhere to the mission of “discover and develop innovative drugs for the healthier lives of patients”, continue to accelerate the development of drug candidates for cancer treatment. At the same time, the Company will continue to expand its pipeline, enhance manufacturing capabilities and build its commercialization capabilities, and is committed to developing new therapeutic drugs for patients.”
About Wuhan YZY Biopharma Co., Ltd.
Wuhan YZY Biopharma Co., Ltd. is a biotechnology company dedicated to developing bispecific antibody (BsAb)-based therapies to treat cancer-associated complications, cancer and age-related ophthalmologic diseases. Since its establishment in 2010, YZY Biopharma has designed and developed seven product pipelines of drug candidates that have entered the clinical stage. The Company carefully selects potential targets for its BsAbs, and has adopted a differentiated clinical development strategy to maximize the clinical and commercial value of its drug candidates. Adhering to the mission of “discover and develop innovative drugs for the healthier lives of patients”, the Company has been deeply involved in the research and development of BsAb-based therapies for more than ten years, to treat cancer-associated complications, cancer and age-related ophthalmologic diseases.
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