Suzhou Novoprotein Scientific Co., Ltd, a China-based provider of protein technology and application solutions, has successfully completed its initial public offering (IPO) on the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR). The net proceeds from the IPO will be used to advance the company’s capabilities in diagnostics raw materials and diagnostic reagent industrialization, construct a new research and development (R&D) center, and supplement working capital.
Company Overview and Technology Platforms
Novoprotein is a leading provider of one-stop contract research organization (CRO) services, leveraging seven comprehensive technology platforms. These include protein design and transformation, protein production and quality control, and protein application and evaluation. The company offers specialized services to clients in the fields of biological drugs, in vitro diagnosis, mRNA vaccine drugs, and basic research in life sciences.
Market Position and Future Outlook
Novoprotein holds a dominant position in China’s mRNA raw material enzymes and reagents market, with a market share of 39.8% in 2021. This places the company at the top among manufacturers in this segment. The funds raised through the IPO are expected to further strengthen Novoprotein’s leadership in the mRNA and diagnostics sectors, driving innovation and expansion in these high-growth areas.-Fineline Info & Tech
