CanSino Biologics Inc. (CanSinoBIO, SHSE: 688185, SEHK:06185) today lands China’s Nasdaq-style STAR Market, making it the first vaccine company completing the dual listing on STAR Market and Hong Kong Stock Exchange. The issue price of CanSinoBIO for the STAR Market is CNY 209.71 per share. The stock opens at CNY 470 per share, up 124.12%, with a market cap of CNY 116.3 billion.
CanSinoBIO’s listing on STAR Market marks Qiming's seventh IPO exit in 2020, following Schrödinger (NASDAQ:SDGR), RoboRock (SHSE:688169), Sanyou Medical (SHSE:688085), Sinocell Tech (SHSE:688520), Gan & Lee Pharmaceuticals (SHSE:603087), andTigermed (SZSE:300347, SEHK:03347). This is Qiming’s second portfolio company that completed dual listing in 2020.
Dr. Yu Xuefeng, Chairman and CEO of CanSinoBIO, said, “The launch of STAR Market and HKEX listing reform have provided policy support for biopharmaceutical companies that require continuous long-term, large-scale investments for research and development. It allows companies to have branding benefits and make global strategic plans. We will continue to be committed to developing, manufacturing and commercializing innovative and affordable vaccines of high quality to improve the public health situation in China and across the globe.”
CanSinoBIO aims to offer solutions to prevent infectious diseases across the globe. Led by well-known scientists and experts, the company has established a technology platform based on adenovirus-based viral vector vaccine technology, protein structure designand recombination technology, conjugation technology and formulation technology. The company has multiple core intellectual property rights and proprietary technologies.
CanSinoBIO is advancing its pipeline – the company is developing 16 vaccines for the prevention of 13 indications including meningitis, Ebola virus disease, DPT (Diphtheria, Pertussisand Tetanus), pneumonia, tuberculosis, new corona virus pneumonia, and Shingles, among others.
Among the 16 vaccines, the Ebola virus disease vaccine Ad5-EBOV has obtained the new drug application (NDA) approval in China. China’s regulator has accepted the NDA for two new meningococcal conjugate vaccines, one of which is China’s first quadrivalent meningococcal conjugate vaccine, qualifying for priority review status. The company has several vaccines in the clinical trial stage or clinical trial application stage, including the investigational Ad5-nCoV, Pneumococcal vaccine portfolio, DTcP vaccine portfolio, TB Booster, and so forth. It has six vaccine candidates in the pre-clinical research stage.
The Recombinant Novel Corona virus Vaccine (Adeno virus Type 5Vector) (the “Ad5-nCoV”), a vaccine candidate jointly developed by CanSinoBIO and Beijing Institute of Biotechnology (BIB), Academy of Military Medical Sciences, has always been a COVID-19 vaccine front-runner. The vaccine on June 25th received China’s military specially-needed drug approval with a valid period for one year. The Lancet recently published a research article regarding the vaccine’s phase II clinical trial result, suggesting that it is safe andinduces a strong immune response.
Nisa Leung, Managing Partner of Qiming Venture Partners, said, “CanSinoBIO continues to achieve exciting milestones. As it builds up its capacities, CanSinoBIO benchmarks itself against the world’s top-tier standards and is advancing the development and clinical trials spanning a wide range of vaccines. We believe that the commercialization of their vaccines will contribute to the well being in China and globally.”