By Fineline Cube 
Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (HKG: 2315) has filed a prospectus announcing plans to seek a listing on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange. The move follows the company’s 2022 H‑share IPO on the Hong Kong Stock Exchange and aims to raise RMB 1.185 billion in A‑share capital to accelerate its core contract‑research‑organization (CRO) activities.
Company Overview
- Innovative pre‑clinical CRO specializing in antibody discovery, pre‑clinical pharmacology & pharmacodynamics, and biotech development for pharma innovators.
- Proprietary RenMice platform for antibody screening and development.
- Delivered net losses of RMB 663 million (2022), RMB 405 million (2023), but achieved a turnover to a net profit of RMB 23 million in 2024, signaling operational stabilization.
Rationale for STAR Market Listing
- Capital infusion will support expansion of core technologies and pipeline projects tied to the RenMice platform.
- STAR Market’s focus on high‑tech and biotech aligns with Biocytogen’s innovation‑driven model, potentially enhancing valuation and investor visibility.
- The listing complements the company’s existing Hong Kong presence, offering a dual‑market strategy to attract both domestic and international capital.
Financial Outlook
- A‑share offering: RMB 1,185 million (≈ US$170 million).
- Proceeds earmarked for core business expansion, technology upgrades, and scaling of CRO services.
- Management projects that the capital raise will strengthen the balance sheet and support future R&D initiatives.
Market Implications
China’s biotech and CRO sectors have attracted significant foreign investment, with the STAR Market serving as a launchpad for high‑growth companies. Biocytogen’s listing could position it as a leading pre‑clinical CRO in the region, potentially generating new partnerships with global pharma firms seeking advanced antibody development platforms.-Fineline Info & Tech