Shanghai Ark Biopharmaceutical Co., Ltd’s Initial Public Offering (IPO) filing to the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR) has been accepted for review by the exchange, with expectations to raise RMB 1.997 billion (USD 289.6 million). This move follows the company’s previous withdrawal of an IPO filing in Hong Kong in 2021.
Ark Bio’s Financials and Focus on R&D
Ark Bio, a pre-revenue biotech company, recorded RMB 196 million (USD 28.4 million) in research and development (R&D) expenses and RMB 214 million (USD 31 million) in losses in 2022. The company’s commitment to R&D is evident in its financials, reflecting its dedication to advancing its pipeline of drugs.
Pipeline and Therapeutic Focus
Founded in 2014, Ark Bio is focused on the development of drugs targeting respiratory syncytial virus (RSV) and other viral infections, as well as anti-fibrosis and anti-inflammatory drugs. The company currently boasts a product pipeline consisting of nine drugs, with five at clinical stages.
Lead Product and Clinical Progress
The lead product, AK0529, has concluded Phase III trials in China and is awaiting regulatory decisions for the treatment of pediatric RSV infection. Broad-spectrum fibrosis inhibitor AK3280, innovative skin topical cream formulation AK3287 developed based on AK3280 for the treatment of hypertrophic scars, and a new compound AK0707 targeting key biological signaling pathways of fibrosis are at early clinical stages.-Fineline Info & Tech
