Lei Jianping reported on October 30
Lepu Biotechnology Co., Ltd. (hereinafter referred to as "Lepu Biotechnology") has submitted a prospectus to the Hong Kong Stock Exchange again for listing in Hong Kong.
The loss in the first 8 months exceeded 600 million
Founded in 2018, Lepu Bio was initiated by Dr. Pu Zhongjie, the founder of Lepu Medical, focusing on the development and construction of innovative tumor treatment product platforms.
Focusing on tumor immunotherapy, Lepu Bio develops and develops an innovative tumor treatment product platform focusing on PD-1, PD-L1 and core combination drugs (oncolytic virus, ADC), and builds an open industrial platform for target discovery, drug development, development and production.
Lepu Bio's product pipeline includes 8 clinical phase drug candidates (5 of which are ADC products) and 3 clinical phase major drug candidate combination therapies.
Among them, the ADC pipeline is: 1) the DRG003 project, an ADC drug that is in the clinical research stage and targets EGFR; 2) the HER2-targeted ADC drug that belongs to the innovative drug class 1 of biologics in the research MRG002 project, which has advantages over similar products in the overall consideration of pharmacokinetic properties, safety and efficacy.
Lepu Bio expects to submit a new drug listing application to the State Food and Drug Administration of China (NMPA) in the second and third quarters of 2021 for the treatment of melanoma and satellite instability (MSI-H)/mismatch repair function defect (dMMR) solid tumors with anti-PD-1 antibody product HX008, respectively.
According to the prospectus, the revenue of Lepu Bio in 2019 and 2020 was 455 million yuan and 520 million yuan respectively; the loss during the period was 515 million yuan and 613 million yuan, respectively.
Lepu Bio's revenue for the first eight months of 2021 was 4.6 million yuan, compared with 2.66 million yuan in the same period last year; operating loss was 662 million yuan, compared with an operating loss of 362 million yuan in the same period last year.
Lepu Bio lost 668 million yuan in the first eight months of 2021, compared with a net loss of 452 million yuan in the same period last year.
As of August 31, 2021, Lepu Bio held cash and cash equivalents of $261 million, compared with $612 million held in the same period last year.
Raise more than 2 billion yuan in a year
The executive directors of Lepu Bio are Pu Zhongjie, Dr. Sui Ziye and Dr. Hu Chaohong, the non-executive directors are Ms. Pu Jue, Yang Hongbing and Lin Xianghong, and the independent non-executive directors are Zhou Demin, Yang Haifeng and Li Yipeng.
In April 2020, Lepu Bio completed a round of financing of 900 million yuan, of which the A series investors paid 450 million yuan for the subscription of the company's new equity issuance and the A series investors paid the remaining 450 million yuan for the equity held by Ningbo Houde Yimin.
In August 2020, Lepu Bio completed a series B financing of nearly 1.291 billion yuan, jointly led by Sunshine Life, Sunshine Ronghui Capital and Ping An Capital, and co-invested by Haitong Innovation, SDIC Venture Capital, Guoxin Central Enterprise Operation And Investment Fund and Qingdao Minxin Qiyuan.
In April 2021, Lepu Biotech completed a Series C financing of 260 million yuan, which was jointly invested by Vivo Capital and Shanghai Biomedical Fund.
Lepu Bio raised more than 2 billion yuan in a year.
Prior to the IPO, Dr. Pu Zhongjie (through Beijing Houde Yimin, Ningbo Houde Yimin and Lepu Medical) owned, directly or indirectly, approximately 43.0% of the total issued share capital of Lepu.
Among them, Ningbo Houde Yimin holds 28.2855%, Lepu Medical holds 14.7128%, Hong Kong Meiyake holds 9.0736%, Su Honor holds 6.5288%, and Shanghai Lawyuan holds 5.8759%;
Yipu Capital holds 5.1495%, Suzhou Danqing holds 4.5978%, Shanghai Chunrui holds 3.2644%, and Tianjin Ping An holds 2.8694%;
Haitong Securities and Sunshine Life held 2.2955% respectively, Kaiyuan Guochuang held 1.8391%, and Ronghui Sunshine, Guoxin Central Enterprise and SDIC Venture Capital held 1.7216% respectively;
Weiwu Capital holds 1.5905%, Suzhou Suzi holds 1.2874%, Minxin Qiyuan holds 1.1477%, Shanghai Biomedical Fund holds 0.9543%, Suzhou Xinrui holds 0.9196%, Jiaxing Danqing holds 0.7356%, and Lin Zhi Lecheng holds 0.3678%.
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