HighTide Therapeutics Inc., (HKG: 2511) a China-based biopharmaceutical company, has successfully completed an initial public offering (IPO) on the Hong Kong Stock Exchange this week. The company issued 24 million shares, each priced at HKD 11.5, resulting in a net proceeds amount of HKD 194.1 million (USD 25 million). Founded in 2011, HighTide specializes in the discovery, development, and commercialization of first-in-class drugs for metabolic and digestive diseases, with a focus on multifunctional and multitarget therapies.
Headquartered in Shenzhen, HighTide has a robust pipeline of five product candidates targeting nine indications, five of which are in clinical stages. Notably, HTD1801, a potential global first-in-class new molecular entity, is under development for the treatment of type 2 diabetes, non-alcoholic steatohepatitis (NASH), severe hypertriglyceridemia, primary sclerosing cholangitis, and primary biliary cholangitis. The company is on track to file for marketing approval in China for the type 2 diabetes indication in 2025.
In 2022, HighTide recorded sales of RMB 20.58 million and invested RMB 183 million in research and development.- Flcube.com
