Shanghai-based Hrain Biotechnology Co., Ltd, a specialist in tumor immunotherapy, plans to conduct an initial public offering (IPO) of 50 million shares on the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR). The offering is expected to raise RMB 2.539 billion (USD 352.6 million). The proceeds will be allocated towards cell therapy research and development, construction of headquarters and industrialization bases, and supplementary working capital.
Product Pipeline and Development
Hrain Bio’s product pipeline consists of 11 programs involving 10 products, including chimeric antigen receptor (CAR)-T, CAR-NK, and other innovative therapies. Among these, HR001, a CD-19 targeted CAR-T therapy with priority review status, is expected to file for marketing approval next year. This pipeline underscores Hrain Bio’s commitment to advancing cutting-edge immunotherapies for cancer treatment.
Financial Performance
Hrain Bio reported net losses of RMB 193 million (USD 26.7 million) in 2021 and RMB 117 million (USD 16.2 million) in the first half of 2022. Despite these losses, the company’s strategic investments in R&D and pipeline expansion position it for long-term growth in the oncology market.
Future Outlook
The planned IPO on the STAR Board highlights Hrain Bio’s ambition to secure funding for its ambitious R&D initiatives and infrastructure development. With a robust pipeline of cell therapies and a focus on innovative treatments, Hrain Bio aims to solidify its position as a leader in tumor immunotherapy.-Fineline Info & Tech
