Knature Biopharm Files Hong Kong IPO Backed by NAD+ Mitochondrial Platform

Knature Biopharmaceutical Co., Ltd. announced it has filed for an initial public offering (IPO) with the Hong Kong Stock Exchange, seeking to raise capital to expand its mitochondrial medicine portfolio anchored by coenzyme I, the only domestically developed NAD+ therapy approved in China. The company reported RMB 238 million (USD 34 million) in sales for the first nine months of 2025.

IPO Overview

Company Profile & Mitochondrial Focus

• Therapeutic Focus: Mitochondrial medicine targeting diseases caused by mitochondrial dysfunction, including cardiovascular diseases, neurodegenerative disorders, reproductive health, and aging
• Platform Technology: NAD+ (nicotinamide adenine dinucleotide) biology – coenzyme I represents the first and only domestically developed NAD+ therapy in China with national and global approvals
• Mechanism: NAD+ is a critical coenzyme for cellular energy metabolism; Knature’s therapies aim to restore mitochondrial function in conditions characterized by energy failure
• Clinical Applications: Cardiovascular protection, immune modulation, anti-aging interventions

Commercial Portfolio

• Total Commercialized Drugs: 20 products across mitochondrial medicine and established therapeutic areas
• Revenue Mix: Coenzyme I contributes ~45% of total sales; generics provide stable cash flow for R&D investment

Financial Performance

Market Opportunity & Competitive Landscape

Key Competitors:

• ChromaDex (Niagen/NMN supplements) – Nutraceutical approach, limited clinical validation
• Elysium Health (Basis) – Consumer NAD+ precursor, not pharmaceutical grade
• Knature – Only pharmaceutical-grade NAD+ therapy (coenzyme I) with regulatory approvals and clinical evidence in China

Strategic Positioning

• Manufacturing: Shanghai facility (GMP certified) produces coenzyme I for domestic and export markets; capacity expansion planned to meet growing demand for mitochondrial therapies
• R&D Pipeline: 4 IND-enabling programs targeting neurodegenerative diseases (Parkinson’s, Alzheimer’s) and cardiac mitochondrial dysfunction
• Global Expansion: Coenzyme I already approved in Southeast Asia and Latin America; IPO proceeds will fund FDA IND filing for US market entry
• Differentiation: First-mover advantage in pharmaceutical-grade NAD+ therapy in China; established hospital formulary presence (800+ tier‑2/3 hospitals)

Forward‑Looking Statements
This brief contains forward‑looking statements regarding IPO completion, market penetration, and revenue forecasts for Knature’s mitochondrial medicine portfolio. Actual results may differ due to market conditions, regulatory review timelines, and competitive dynamics in the NAD+ therapy space.-Fineline Info & Tech