{"id":23544,"date":"2022-12-16T00:11:00","date_gmt":"2022-12-15T16:11:00","guid":{"rendered":"https:\/\/flcube.com\/?p=23544"},"modified":"2025-01-28T00:16:42","modified_gmt":"2025-01-27T16:16:42","slug":"cryofocus-medtech-set-for-ipo-on-hong-kong-stock-exchange","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=23544","title":{"rendered":"Cryofocus Medtech Set for IPO on Hong Kong Stock Exchange"},"content":{"rendered":"\n<p>China-based Cryofocus Medtech (Shanghai) Co., Ltd, a minimally invasive interventional cryotherapy device maker, is set to make an initial public offering (IPO) of 11.11 million shares to the Hong Kong Stock Exchange, priced at HKD 18.9 (USD 2.43) per share. This amounts to an HKD 210 million (USD 27 million) take-home for the company.<\/p>\n\n\n\n<p><strong>Company Background and Product Portfolio<\/strong><br>Founded in 2013, Cryofocus boasts a bladder cryoablation system and endoscopic anastomosis clip, alongside three major patents and eight patent filings related to the two core products. Its product portfolio covers urology, cardiovascular, respiratory, and digestive diseases.<\/p>\n\n\n\n<p><strong>Financial Performance and R&amp;D Expenses<\/strong><br>Cryofocus generated RMB 22.43 million (USD 3.2 million) and RMB 16.43 million (USD 2.35 million) in revenue and RMB 127 million (USD 18.2 million) and RMB 61.4 million (USD 8.8 million) in net loss in 2021 and the first eight months of 2022, respectively. Research and development (R&amp;D) expenses were RMB 89.8 million (USD 12.8 million) and RMB 35.8 million (USD 5.1 million) during the periods.<\/p>\n\n\n\n<p><strong>Use of Proceeds<\/strong><br>Net proceeds, expected to stand at HKD 140 million (USD 18 million), will go towards R&amp;D activities, commercial promotion, and production of core products, as well as R&amp;D, regulatory filing, planning commercial promotion, and manufacturing of the other 14 products in the pipeline.<a href=\"https:\/\/flcube.com\/\">-Fineline Info &amp; Tech<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China-based Cryofocus Medtech (Shanghai) Co., Ltd, a minimally invasive interventional cryotherapy device maker, is set&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7,10],"tags":[3350,72],"class_list":["post-23544","post","type-post","status-publish","format-standard","hentry","category-company","category-deals","tag-cryofocus-medtech","tag-ipo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.6 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cryofocus Medtech Set for IPO on Hong Kong Stock Exchange - Insight, China&#039;s Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"China-based Cryofocus Medtech (Shanghai) Co., Ltd, a minimally invasive interventional cryotherapy device maker, is set to make an initial public offering (IPO) of 11.11 million shares to the Hong Kong Stock Exchange, priced at HKD 18.9 (USD 2.43) per share. 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