New stock news | Sichuan Biokin Pharmaceutical(688506.SH) Hong Kong IPO prospectus failed for the second time.
Sichuan Baoli Tianheng Pharmaceutical Co., Ltd. (hereinafter referred to as Baoli Tianheng) (688506.SH)'s Hong Kong IPO prospectus submitted on January 21, 2025, was valid for 6 months and expired on July 21, 2025. At the time of submission, Goldman Sachs, JPMorgan Chase, and CITIC Securities were the joint sponsors.
Sichuan Biokin Pharmaceutical Co., Ltd. (hereinafter referred to as Sichuan Biokin Pharmaceutical) (688506.SH) submitted its Hong Kong stock prospectus on January 21, 2025, which expired after 6 months on July 21, 2025. Goldman Sachs, J.P. Morgan, and CITIC SEC were the joint sponsors at the time of submission. This is the second time that the company's Hong Kong IPO prospectus has expired.
According to the prospectus, Sichuan Biokin Pharmaceutical is a comprehensive pharmaceutical group operating two main businesses: innovative biopharmaceutical business and generic drugs and traditional Chinese medicine business. Ten years ago in 2014, the company established SystImmune in Seattle, USA, and began researching BL-B01D1, the world's first and only EGFRHER3 bispecific antibody ADC in clinical development. Ten years later, the company reached a $8.4 billion deal with BMS for BL-B01D1, which is the largest global strategic licensing and collaboration deal in the ADC field to date.
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