By Fineline Cube 
China-based Elpiscience Biopharmaceuticals, Inc. has filed for an initial public offering (IPO) with the Hong Kong Stock Exchange (HKEX), with CITIC Securities acting as the sole sponsor. This move signals the company’s aim to expand capital markets and further develop its immunotherapy pipeline.
Company Overview
Elpiscience, founded in 2017, is a clinical-stage biopharmaceutical company focusing on next-generation immunotherapies. Its lead candidate, the OX40-antibody ES102, licensed from US biotech firm Inhibrx, targets patients with poor response to checkpoint inhibitors. Clinical studies have shown that the combination of ES102 and PD-1 inhibitor demonstrates anti-tumor activity and good safety in patients with PD-1 inhibitor-resistant non-small cell lung cancer (NSCLC) and esophageal squamous cell carcinoma (ESCC).
Financial Performance
In 2024, Elpiscience generated revenue of RMB 107 million (USD 15 million) and reported a loss of RMB 88 million (USD 12 million). This financial performance underlines the company’s ongoing commitment to advancing its innovative therapies while navigating the challenges of clinical development.-Fineline Info & Tech