{"id":25023,"date":"2022-10-19T23:21:00","date_gmt":"2022-10-19T15:21:00","guid":{"rendered":"https:\/\/flcube.com\/?p=25023"},"modified":"2025-02-02T23:26:49","modified_gmt":"2025-02-02T15:26:49","slug":"sichuan-biokin-pharma-plans-ipo-on-star-board-to-raise-rmb-1-422-billion","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=25023","title":{"rendered":"Sichuan Biokin Pharma Plans IPO on STAR Board to Raise RMB 1.422 Billion"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">China-based Sichuan Biokin Pharmaceutical Co., Ltd is set to conduct an initial public offering (IPO) of 40.1 million shares on the Shanghai Stock Exchange&#8217;s Sci-Tech Innovation Board (STAR). The offering is expected to raise a total of RMB 1.422 billion (USD 196.6 million). The proceeds will be allocated towards the industrialization construction of antibody drugs and the research and development (R&amp;D) of antibody drugs targeting cancer and COVID-19.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Company Background and Development Pipeline<\/strong><br>Biokin Pharma initially focused on chemical generics and traditional Chinese medicine (TCM), and expanded into the biologic drug field in 2011. The company currently has 24 chemical drugs under development, including six undergoing Generic Quality Consistency Evaluation (GQCE). Additionally, Biokin Pharma has 16 biologic drugs in development, including SI-B001 and a bispecific antibody (BsAb). Six of these biologic drugs are in Phase II clinical studies, while eight candidates are in Phase I.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Financial Performance<\/strong><br>Biokin Pharma generated revenues of RMB 1.207 billion (USD 167 million) in 2019, RMB 1.013 billion (USD 140.2 million) in 2020, RMB 797 million (USD 110.3 million) in 2021, and RMB 305 million (USD 42.2 million) in the first half of 2022. The downward trajectory in revenue performance is attributed to the impact of volume-based procurement (VBP) and pandemic-related disruptions. The company reported net losses of RMB 38.12 million (USD 5.2 million) in 2019, RMB 25.04 million (USD 3.4 million) in 2020, RMB 154 million (USD 21.3 million) in 2021, and RMB 154 million (USD 21.3 million) in the first half of 2022, primarily due to increased R&amp;D investment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Future Outlook<\/strong><br>The planned IPO on the STAR Board highlights Biokin Pharma&#8217;s strategy to secure funding for its ambitious R&amp;D initiatives and industrialization efforts. With a robust pipeline of antibody drugs targeting critical diseases, Biokin Pharma aims to enhance its market position and contribute to the development of innovative therapies.<a href=\"https:\/\/flcube.com\/\">-Fineline Info &amp; Tech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China-based Sichuan Biokin Pharmaceutical Co., Ltd is set to conduct an initial public offering (IPO)&#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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_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},"jetpack_post_was_ever_published":false},"categories":[7,10],"tags":[151,30,20,72],"class_list":["post-25023","post","type-post","status-publish","format-standard","hentry","category-company","category-deals","tag-biokin-pharmaceutical","tag-biotech","tag-finance","tag-ipo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Sichuan Biokin Pharma Plans IPO on STAR Board to Raise RMB 1.422 Billion - Insight, China&#039;s Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"China-based Sichuan Biokin Pharmaceutical Co., Ltd is set to conduct an initial public offering (IPO) of 40.1 million shares on the Shanghai Stock Exchange&#039;s Sci-Tech Innovation Board (STAR). 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