By Fineline Cube 
PrimeGenX Therapeutics Co., Ltd., a Beijing‑based immuno‑inflammation biotech founded in 2016, made an initial public offering (IPO) filing to the Hong Kong Stock Exchange. The filing covers its core product, pumecitinib (G‑011), a locally delivered JAK inhibitor in gel and nasal spray formulations, along with a pipeline targeting atopic dermatitis, allergic rhinitis, and other autoimmune conditions.
IPO Filing & Company Profile
| Item | Detail |
|---|---|
| Company | PrimeGenX Therapeutics Co., Ltd. |
| Founded | 2016 |
| Focus | Immuno‑inflammation, locally delivered targeted therapies |
| IPO Venue | Hong Kong Stock Exchange Main Board |
| Core Product | Pumecitinib (G‑011) – gel (atopic dermatitis) and nasal spray (allergic rhinitis) |
| Pipeline | PG‑033 (pruritus), PG‑018 (autoimmune kidney disease), PG‑040 eye drops (glaucoma) |
| Platform | Locally delivered JAK inhibition and targeted immuno‑modulation |
| Strategic Vision | Leader in topical and mucosal immunotherapy |
Market Impact & Commercial Outlook
- China Immuno‑Inflammation Market: Valued at ¥120 billion (~US$17 billion) in 2025, growing at 15% CAGR driven by biologics adoption
- Atopic Dermatitis: Affects 70 million Chinese patients; topical JAK inhibitors offer steroid‑sparing alternative with ¥5 billion market potential
- Allergic Rhinitis: Nasal spray formulation targets 250 million patients; potential first‑in‑class JAK inhibitor nasal spray
- Pipeline Value: PG‑033 and PG‑018 address niche autoimmune indications with limited competition; PG‑040 eye drops expand into ophthalmology
- Revenue Projections: Analysts estimate pumecitinib could generate ¥2–3 billion (US$280–420 million) peak sales by 2028 if approved
- Competitive Landscape: Competes with Incyte/礼来的Olumiant and Pfizer的Cibinqo; topical delivery offers safety and convenience advantages
- IPO Use of Proceeds: Expected to fund Phase III trials for pumecitinib, expand manufacturing, and advance pipeline assets
Forward‑Looking Statements
This brief contains forward‑looking statements regarding IPO timelines, clinical development, and revenue projections for PrimeGenX’s platform. Actual results may differ due to market conditions, regulatory review, and competitive dynamics.-Fineline Info & Tech