China-based Visen Pharmaceuticals, a joint venture between Denmark-headquartered Ascendis Pharma and Vivo Capital, has successfully launched its initial public offering (IPO) on the Hong Kong Stock Exchange. The offering price ranges from HKD68.44 to HKD75.28 per share, with net proceeds potentially reaching HKD603.3 million (USD77.6 million) if calculated at the median price of HKD71.86 per share.
Company Background and Focus
Founded in 2018, Visen Pharmaceuticals specializes in endocrine products. The company holds exclusive rights to develop, manufacture, and commercialize lonapegsomatropin, a growth hormone replacement therapy developed by Ascendis Pharma A/S. This therapy has already received approval in the US and European Union for pediatric growth hormone deficiency (PGHD) and is expected to obtain marketing approval in China later this year, paving the way for commercialization and cash inflows starting in the second quarter of 2026.
Financial Overview
During the first nine months of 2024, Visen reported R&D expenses of RMB58.9 million (USD8.13 million) and a comprehensive loss of RMB129.7 million (USD17.9 million). As of September 30, 2024, the company maintained cash and cash equivalents totaling RMB242.6 million (USD33.5 million), reflecting its financial preparedness for upcoming commercialization efforts.-Fineline Info & Tech
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