By Fineline Cube 
Suzhou-based endocrine-metabolism biotech PegBio Co., Ltd. (HKG: 2565) has successfully launched its Hong Kong IPO, offering 19.28 million shares at HKD 15.6 (USD 2.0) per share, raising total proceeds of USD 38 million. This milestone event underscores the company’s commitment to advancing therapies for chronic diseases.
Company Overview and Pipeline
Founded in 2008, PegBio is dedicated to the discovery and development of peptides and small molecule drugs for chronic conditions, with a focus on metabolic disorders. The company’s robust pipeline includes one core product and five other candidate drugs, targeting indications such as type 2 diabetes (T2DM), obesity, nonalcoholic steatohepatitis (NASH), opioid-induced constipation (OIC), and congenital hyperinsulinemia.
Core Product PB-119
PegBio’s core product, PB-119, is a long-acting glucagon-like peptide-1 (GLP-1) receptor agonist developed in-house. The New Drug Application (NDA) for PB-119 in the treatment of T2DM was accepted for review in China in September of the previous year. This weekly injectable therapy offers multiple benefits, including blood sugar control, weight loss, and improved cardiovascular markers, with a favorable safety profile and high patient compliance.-Fineline Info & Tech