HONG KONG, Oct 30, 2019 – (ACN Newswire) – SinoMab BioScience Limited (“SinoMab BioScience” or the “Company”, together with its subsidiaries, the “Group”; stock code: 3681.HK), a Hong Kong-based biopharmaceutical company dedicated to the research, development, manufacturing and commercialization of therapeutics for the treatment of immunological diseases, primarily mAb-based biologics, announced the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) today.
SinoMab BioScience plans to offer an aggregate of 182,129,400 Offer Shares under the Global Offering (subject to the Over-allotment Option), consisting of 163,916,400 International Offer Shares (subject to adjustment and the Over-allotment Option) and 18,213,000 Hong Kong Offer Shares (subject to adjustment), at a price range between HK$7.60 and HK$9.60 per share. The Global Offering has introduced Yunnan Baiyao Group Co., Ltd and Reach Software (Hongkong) Limited as the Cornerstone Investors of the Company.
The public offering will open at 9:00 a.m. on Thursday, 31 October 2019 and close at 12:00 noon on Tuesday, 5 November, 2019 in Hong Kong. Dealings in shares on SEHK are expected to commence at 9:00 a.m. on Tuesday, 12 November 2019, with the stock code 3681.HK in board lots of 300 shares each.
China International Capital Corporation Hong Kong Securities Limited (“CICC”) and Orient Capital (Hong Kong) Limited are the Joint Sponsors; CICC and Orient Securities (Hong Kong) Limited are the Joint Global Coordinators, the Joint Bookrunners and the Joint Lead Managers; China Everbright Securities (HK) Limited, Guotai Junan Securities (Hong Kong) Limited, CMB International Capital Limited, Haitong International Securities Company Limited, Fosun Hani Securities Limited and Victory Securities Company Limited are the Joint Bookrunners and the Joint Lead Managers.
One of a Select Few Biopharmaceutical Companies in the Greater China Region with an Established Full-spectrum Platform
SinoMab BioScience is one of a few select biopharmaceutical companies in the Greater China Region that has full-fledged capability. The Company has built a platform with an industry chain allocation to standardize and systemically monitor the Company’s R&D, clinical trials and manufacturing process. This comprehensive platform integrates all-industry functionalities, including target identification, drug candidate development, pre-clinical research, clinical trials, clinical production, quality control and quality assurance, regulatory approval and commercial-scale production up to the commercialization stage. SinoMab BioScience’s R&D system, clinical trial management system and production system form the Company’s full-spectrum platform. This platform allows the Company’s R&D team to evaluate the scientific merits of a drug candidate; the Company’s clinical trial management team to develop the drug candidate to realize its therapeutic potential and monitor regulatory affairs; and the Company’s production team to effect large-scale production.
The platform features patent-protected technologies and knowhow that enable the Company to attain an in-depth understanding of the drug discovery and development process. As demonstrated by the first-in-target and first-in-class drug candidates, the Company is capable of identifying novel targets, developing innovative drugs and implementing the Company’s development plan via clinical validations. Although the Company primarily focuses on in-house ab initio development, the platform can also incorporate external drug candidates at different developmental stages into the Company’s pipeline to advance towards commercialization.
The Company believes it is well positioned to capitalize on market opportunities as a result of its full-spectrum platform and its in-house capabilities. The Company aims to develop an array of first-in-target and first-in-class therapeutics for the treatment of immunological diseases to solidify its position as an R&D-driven biopharmaceutical company and enhance its competitive advantage in the PRC and globally.
Near-commercialization drug candidate SM03 is a clinically proven, first-in-target anti-CD22 mAb for the treatment of RA and potentially other immunological diseases.
SinoMab BioScience’s flagship drug candidate, SM03, exemplifies its exceptional achievement in developing innovative therapeutics for the treatment of immunological diseases. SM03 is a chimeric mAb specific to the B cell restricted antigen CD22 developed for the treatment of rheumatoid arthritis (RA) and other immunological diseases such as systemic lupus erythematosus (SLE) and Sjogren’s syndrome (SS). As of October 22, 2019, the Company was one of the few biopharmaceutical companies in the world and the only company in the Greater China Region to successfully develop a naked therapeutic mAb that targets CD22. Thus far, SM03 is the first and only clinical stage anti-CD22 mAb for the treatment of RA in the world. In addition to the Company’s IP protection of SM03, the Company is able to establish a QC monograph standard with proprietary target cell line for CD22 unavailable in the market through its R&D efforts to elevate the entry barrier for its potential competitors.
The Company believes SM03, once commercialized, will fulfill a long term unmet medical need and advance the treatment of RA as either a complementary, or an alternative treatment to currently available treatment options. These favorable comparative results may buttress SM03’s commercial prospects in the treatment of RA and position the Company to realize SM03’s commercial potential. As SM03 may first be commercialized in the PRC, it can capture a significant share of the market for RA. In 2018, 5.9 million people in the PRC were diagnosed with RA and that number is expected to reach 6.1 million in 2023, according to Frost & Sullivan.
Leveraging the Company’s success in developing SM03 as a treatment for RA, the Company is also actively developing SM03 for the treatment of additional indications. For example, the Company has completed SM03 Phase I clinical trial for SLE and NHL, and is conducting SM03 Phase II clinical trial for NHL in China. The Company expects its success in SM03 to well position the Company to make significant inroads in other immunology areas through the introduction of other products in the Company’s pipeline.
Have an Expanding Portfolio of Drug Candidates for the Treatment of Immunological Diseases Targeting Markets with Significant Growth Potential
As of the October 22, 2019, SinoMab BioScience has built a pipeline of six drug candidates. The Company’s portfolio of drug candidates targets various immunological diseases with largely unmet medical needs and total addressable market. The Company’s portfolio of drug candidates is a mix of mAb-based biologics and small molecule new chemical entities (NCEs). The Company aims to maintain this dual-pronged approach in the exploration of future drug candidates to ensure sufficient diversity and coverage of the Company’s portfolio.
The Company’s portfolio of drug candidates covers a wide range of immunological indications. In addition to SM03, the Company identifies SN1011 and SM17 as key products. SN1011 is the third-generation, covalent reversible BTK inhibitor designed for higher selectivity and superior efficacy for the treatment of RA, pemphigus and SLE for long term administration; the potentially first-in-class and first-in-target antibody of SM17 exhibits possible therapeutic effects against multiple indications, including asthma and idiopathic pulmonary fibrosis (IPF).
The Company focuses on the development of therapeutics to treat a broad range of immunological diseases. As part of this effort, targets are carefully selected to ensure therapeutic effects are achieved via different mechanisms of action at different channels in order to cover a broad range of immunological disorders. According to Frost & Sullivan, the developed global immunological treatment market will experience steady growth driven by increasing R&D investments and advancements in biologics treatments. Combining the advanced features of the drug candidates and optimal market projections, the Company believes its drug candidates, once commercialized, stands to compete for significant market share.
Experienced and Highly Cohesive Management Team Led by the founder with exemplary leadership and guidance
SinoMab BioScience is led by a team of experienced scientists and pharmaceutical executives. The Company’s management team possesses complementary expertise across the entire industry chain including, among others, drug discovery, process development, clinical developments, cross-jurisdiction regulatory compliance, production, commercialization and financing.
Dr. Shui On LEUNG, the founder of the Company, has extensive experience in molecular immunology and the development of monoclonal antibodies. Dr. Leung was the first scientist in the world to introduce, develop and effect the concept of functional humanization, which is critical to the Company’s clinical development process. Dr. Leung has more than 25 years of research experience on Target CD22 and was the first scientist to successfully develop humanized CD22 mAb. Beyond his strong scientific background, Dr. Leung is a pragmatic entrepreneur. Dr. Leung’s vision of the industry drives the growth of the Company and his all-round expertise enables him to oversee and guide every aspect of the development of the Company.
The Company’s core management team is comprised of graduates from top universities with significant work experience from international and domestic business enterprises and medical institutions. The Company’s R&D team is predominantly comprised of master’s and doctoral degree-holders with extensive research experience. The Company believes the complementary skillsets of its R&D team members establish competitive advantages in R&D, clinical trial and commercialization critical to its growth.
Dr. Shui On LEUNG, the Executive Director, Chairman of the Board and Chief Executive Officer of SinoMab BioScience Limited said, “the Company strives to become a leading global biopharmaceutical company for the development of novel drugs to fulfill unmet medical needs through the Company’s Hong Kong-based R&D and PRC-based manufacturing capabilities. Looking forward, the Company will develop novel drugs for the treatment of immunological diseases by leveraging the R&D capabilities and will diversify the portfolio by introducing and incorporating various small molecular NCEs to expand the product portfolio; rapidly advance the Company’s flagship product SM03 towards commercialization and establish a full-service marketing team to effectively promote the products; expand the Company’s production base in Suzhou in addition to the facilities currently under construction to increase the Company’s production capacity. As one of the few biopharmaceutical companies based in Hong Kong, the Company benefits from the Hong Kong government’s policy to foster and promote the biotech industry, including biopharmaceutical companies. The Company will utilize resources and infrastructure of the Hong Kong Science Park to further the development of the Company and intend to fully utilize many advantages innate to Hong Kong to further strengthen the Company’s business and expand the Company’s operations to the United States, Europe and other major jurisdictions.”
About SinoMab BioScience Limited
SinoMab BioScience Limited (“SinoMab” or the “Company”, stock code: 3681.HK) is dedicated to the research, development, manufacturing and commercialization of therapeutics for the treatment of immunological diseases. The Company’s flagship product SM03 is a potential global first-in-target mAb against CD22 for the treatment of rheumatoid arthritis and is currently in Phase III clinical trial for rheumatoid arthritis in China, which has been recognized as one of the significant special projects of Significant New Drugs Development of the Twelfth Five-Year Plan Period and the Thirteenth Five-Year Plan Period. In addition, the Company possesses other potential first-in-target and first-in-class drug candidates, some of which are already in clinical stage, with their indications covering rheumatoid arthritis, systemic lupus erythematosus, non-Hodgkin’s lymphoma, asthma, and other diseases with major unmet clinical needs.
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