Shanghai-based Bide Pharmatech Co., Ltd, a specialist in drug building blocks, is set to make an initial public offering (IPO) of 16 million shares on the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR), raising an estimated RMB 43.44 million (USD 6.2 million). The move marks a significant milestone for the company as it seeks to expand its market presence and enhance its R&D capabilities.
Company Background and Focus
Bide’s products are primarily used in the research and development of new molecular entities (NMEs) for pharmaceutical companies. Over the period from 2007 to 2019, the firm has secured a growing number of NMEs, with a particular focus on rare diseases rather than the oncology field. Bide specializes in the early stages of novel drug R&D, providing a wide variety of high-end drug molecular building blocks and scientific reagents with novel structures. These products cover the entire spectrum from drug target discovery, hit compound screening, lead compound generation and optimization, to clinical candidate drug selection.
High-End Clientele and Market Presence
Bide boasts a high-end clientele that includes multinational companies such as Roche, Merck KGaA, Pfizer, Abbie, and Gilead, as well as well-known domestic companies like Hengrui Medicine, BeiGene, and Hutchmed. The company also collaborates with leading CROs including WuXi AppTec, Pharmaron, Medicilon, Sandia, Aragen Life Sciences, and Syngene. Additionally, Bide works with renowned research institutes such as the National Institutes of Health (NIH), Shanghai Institute of Materia Medica, Chinese Academy of Sciences, and academic institutions including Harvard University, Yale University, Princeton University, Massachusetts Institute of Technology, Tsinghua University, Peking University, and Westlake University.
Strong Financial Performance
Sales of Bide’s drug molecular building blocks and scientific reagent products have increased significantly in both domestic and overseas markets. From January to June 2022, the company generated RMB 368.7 million (USD 52.9 million) in revenues, up 37.41% year-on-year (YOY), and RMB 58.7 million (USD 8.4 million) in net profits, up 40.40% YOY. This strong financial performance underscores Bide’s market position and growth potential.-Fineline Info & Tech
