New Share News | Sichuan Biokin Pharmaceutical (688506.SH) has submitted its application to the Hong Kong Stock Exchange, and its core product Yizekang has been approved for listing in June.

According to the Hong Kong Stock Exchange's disclosure on August 6, Sichuan Biokin Pharmaceutical Co., Ltd. - B (referred to as: Sichuan Biokin Pharmaceutical, 688506.SH) has submitted its listing application to the main board of the Hong Kong Stock Exchange, with CITIC SEC, Jefferies, CICC, and Deutsche Bank acting as joint sponsors. The prospectus shows that Sichuan Biokin Pharmaceutical was established in 1996 and is a platform-driven biopharmaceutical group primarily focused on discovering, developing, and commercializing innovative oncology and other therapies globally. In 2014, the company established SystImmune, Inc. in Seattle, USA, to establish its position in the global biotechnology innovation landscape, leading breakthrough innovations from "0 to 1." Leveraging the R&D, translational medicine, and clinical development system built domestically as a capability supplement, the company can accelerate the clinical transformation and indication expansion of its independently developed pipeline assets from 1 to N. As of the last practicable date, Sichuan Biokin Pharmaceutical's innovative drug pipeline includes 15 clinical-stage candidate drugs, five of which are undergoing clinical development outside of China. The company focuses on the field of oncology, strategically laying out three cutting-edge technology tracks: antibody-drug conjugates (ADC), antibody-radionuclide conjugates (ARC), and bispecific T-cell engagers (TCE). Sichuan Biokin Pharmaceutical has two core products, Yizhe Kang and T-Bren. Yizhe Kang leads a new field of bispecific ADC drugs and is the world's first and only bispecific antibody ADC drug approved for marketing, and the only bispecific ADC targeting epidermal growth factor receptor (EGFR) human epidermal growth factor receptor 3 (HER3) that has entered global registration. The new drug applications (NDA) for Yizhe Kang's treatment of nasopharyngeal carcinoma (NPC) as a subsequent line of therapy and esophageal squamous cell carcinoma (ESCC) as a second line of therapy were approved by the China National Medical Products Administration in June and July 2026, respectively. As of the last practicable date, the NDA application for Yizhe Kang in the treatment of triple-negative breast cancer (TNBC) has also been accepted by the China National Medical Products Administration. T-Bren is a human epidermal growth factor receptor 2 (HER2) ADC with best-in-class potential, currently undergoing registrational clinical development for various HER2-expressing solid tumors. In December 2023, Sichuan Biokin Pharmaceutical reached a global strategic licensing and collaboration agreement with Bristol Myers Squibb (BMS) for Yizhe Kang, with a total value of up to $8.4 billion and an upfront payment of $800 million. The company believes that Yizhe Kang has the potential to become a blockbuster drug, leading a new era of bispecific ADC therapies. Since the release of its clinical research data, bispecific ADCs have garnered increasing attention and investment in R&D globally, further consolidating Sichuan Biokin Pharmaceutical's leading position in this field. Additionally, 2026 marks the commercialization year for Sichuan Biokin Pharmaceutical's innovative drugs, with the core product Yizhe Kang having been approved for market launch in June 2026. Leveraging its years of deep cultivation and accumulation in the China Meheco Group market, the company has established a commercialization team with extensive experience in the oncology field to support rapid market access and volume growth post-launch. As Yizhe Kang is expected to receive market approval overseas in the coming years, Sichuan Biokin Pharmaceutical will further strengthen its global commercialization capabilities, providing support for Yizhe Kang's market deployment and laying a solid foundation for the global launch of other assets in its pipeline. In terms of finances, for the fiscal year 2024, 2025, the three months ending March 31, 2025, and the three months ending March 31, 2026, the company achieved revenues of approximately RMB 5.821 billion, RMB 2.518 billion, RMB 67.034 million, and RMB 94.076 million, respectively; during the same period, the gross profit recorded was approximately RMB 5.530 billion, RMB 2.252 billion, RMB 28.34 million, and RMB 46.18 million, respectively.