By Fineline Cube 
Hangzhou-based Medtide Inc., a leading Contract Research, Development, and Manufacturing Organization (CRDMO) specializing in polypeptides, has successfully made an initial public offering (IPO) of 16.8 million shares to the Hong Kong Stock Exchange. Priced at HKD 30.60 per share, the listing will generate proceeds of HKD 514 million (USD 65 million, based on GBI calculation).
Global Market Position
As the world’s third-largest polypeptide-focused CRDMO, Medtide held a 1.5% global market share in 2023. The company offers comprehensive services spanning the entire value chain, from early-stage discovery and preclinical research to clinical development and commercial production. It primarily provides peptide Active Pharmaceutical Ingredient (API) Contract Research Organization (CRO) and Contract Development and Manufacturing Organization (CDMO) services to clients across 50+ countries and regions, including China, the U.S., Japan, and Europe.
Business Expansion
Medtide is actively expanding its oligonucleotide CDMO business and has deployed multiple New Chemical Entity (NCE) projects in the GLP-1 drug segment. As of the end of 2024, it had 1,217 ongoing CRO projects and 332 active CDMO projects.
Financial Performance
In 2024, the company reported revenue of RMB 442 million (USD 62 million) and a profit of RMB 59.17 million (USD 8.2 million). R&D investment reached RMB 28.75 million (USD 4 million).
IPO Proceeds Allocation
The net proceeds of HKD 411.2 million (USD 52 million) from the offering will be primarily allocated to expanding production facilities in China and the U.S., developing sales networks, and supplementing working capital.-Fineline Info & Tech