China-based dermatology specialist Cutia Therapeutic announced plans to make an initial public offering (IPO) to the Hong Kong Stock Exchange.
Company Background and Pipeline
Founded in 2019, Cutia Therapeutic boasts a pipeline consisting of 11 products with great market potential, covering hair disease and hair care, skin disease and skin care, local fat accumulation management, and epidermal anesthesia. The company has two listed products and five drug candidates at clinical stages, including two undergoing commercial pilots at Hecheng of Hainan Province.
Core Product and R&D Expenditure
The company’s core product CU-20401 is an investigational recombinant mutant collagenase that can reduce excessive local fat accumulation after subcutaneous treatment. The company, with 18 patents and patent filings, spent RMB 110.6 million (USD 15.8 million) and RMB 83.5 million (USD 11.96 million) on research and development in 2021 and the first half of 2022 respectively.-Fineline Info & Tech
