CSRC approves Xinnuo Weike's registration for ChiNext IPO

On July 23, the China Securities Regulatory Commission issued the reply on the registration of Suzhou Xinnuowei Medical Technology Co., Ltd.'s initial public offering of stock. It is reported that Xinnuowei plans to list on the Science and Technology Innovation Board of the Shanghai Stock Exchange, with Guotai Haitong as its sponsor institution, aiming to raise 2.94 billion yuan. The prospectus shows that Xinnuowei is an innovative drug company focusing on major unmet clinical needs worldwide, disease-oriented, dedicated to translating innovation into clinical value, and providing patients with the best therapeutic drugs in the field of disease. The company has formed two tiers of innovative drug pipelines with "1 (NDA) + 3 (Phase III) + N", and has achieved initial innovation feedback to research and development through global BD3 licensing or transfer. The company's first innovative drug, Imexafovir for injection, is expected to be approved for domestic market listing in 2026. Three drugs, XNW5004, XNW27011, and XNW28012, have received breakthrough therapy designations from the China Drug Evaluation Center (CDE) and are expected to be successively listed in the domestic market between 2027 and 2028, driving rapid growth in the company's drug sales revenue.