Wuhan YZY Biopharma Co., Ltd, (HKG: 2496) a biopharmaceutical company specializing in targeted cancer drugs and drug immunotherapies, is poised to raise HKD 220 million (USD 28.4 million) through an initial public offering (IPO) on the Hong Kong Stock Exchange. The company plans to issue 11,001,200 shares at a price of HKD 20 per share, with YZY adopting the ticker symbol 2496.HK.
Company Background and Platform Technologies
Founded in 2010, YZY Biopharma has established itself as a bispecific antibody (BsAb) developer with a suite of proprietary platforms, including the YBODY platform, Check-BODY platform, Nano-YBODY platform, and the UVAX platform, which was developed in collaboration with the Wuhan Institute of Virology. These platforms underscore the company’s commitment to innovation in the field of oncology and immunotherapy.
Product Pipeline and Recent Financials
YZY Biopharma’s product pipeline comprises seven drug candidates, one of which is M701, an EpCAM/CD3 recombinant BsAb currently undergoing a Phase II study for malignant ascites (MA) and a Phase Ib/II study for malignant pleural effusion (MPE). Financially, the company reported a net loss of RMB 75.44 million and invested RMB 63.68 million in research and development during the first five months of 2023, reflecting its focus on advancing its pipeline and expanding its R&D capabilities.-Fineline Info & Tech
