Beijing, China, September 1, 2022 -- Biocytogen Pharmaceuticals (Beijing) Co., Ltd. ("Biocytogen", HKEX: 02315) announced the company’s official listing on the Main Board of the Stock Exchange of Hong Kong. Government representatives, shareholders, agencies, collaborative partners, and employee representatives attended the listing ceremony. In total, 21.76 million shares were offered globally with a price of HK$ 25.22 per share. The net proceeds from the Global Offering will be approximately HK$ 471.1 million.
Since its establishment in 2009, Biocytogen has established a series of genetically modified animal and cell models using advanced proprietary technologies, including target humanized mice and severely immunodeficient mice. The company harnesses these specialized models to provide preclinical pharmacology evaluation services for global pharmaceutical/biotech companies. These products and services greatly accelerate the research and development of novel drugs.
Biocytogen’s proprietary size-unlimited, precise chromosome engineering (SUPCE) technology, which was developed over a period of 6 years, was applied to generate a series of fully human antibody mice (RenMiceTM), including RenMabTM and RenLite®. The company has developed 5 core antibody development platforms using RenMiceTM, including a fully human monoclonal antibody discovery platform, bispecific antibody discovery platform, bispecific ADC platform, GPCR antibody platform and TCR-mimic antibody platform, which form the core competitiveness of Biocytogen’s antibody drug discovery capability. The company’s RenMiceTM-based “Project Integrum”, a large-scale antibody discovery and development program launched in 2020, involves deriving knockout RenMiceTM, target verification and antibody discovery for 1000+ potential antibody-druggable targets. With these 5 antibody platforms, Biocytogen plans to continuously produce novel antibody drug molecules that can be licensed or co-developed with global pharmaceutical/biotech companies. Over the past two years, the company has generated 1000+ target gene knock-out RenMiceTM, with 300+ targets undergoing antibody screening, 240+ targets with hits molecules identified, and PCCs obtained for nearly 20 targets. Biocytogen strives to become the headstream of novel antibody drugs.
With gene-edited animal and cell models serving as the foundation, Biocytogen has developed an innovative evidence-based in vivo drug efficacy and safety screening process. These preclinical discovery and pharmacology platforms have supported the establishment of 10+ preclinical and clinical pipelines, including monoclonal antibodies, bispecific antibodies and bispecific ADCs; 3 products have been out-licensed and/or entered co-development. The company’s leading products, YH003 (CD40 mAb) and YH001 (CTLA-4 mAb), are currently in phase II multi-regional clinical trials and global drug development, with their phase I studies showing excellent safety profiles and promising preliminary anti-tumor activities.
Biocytogen has developed over 2500 innovative animal models since 2013 and these models have been sold to more than 20 countries around the world. In the future, 1000+ innovative models are expected to be successfully developed and put into the market. Biocytogen has completed more than 500 preclinical antibody drug evaluation projects for more than 200 biopharmaceutical companies, including many of the top 10 global biopharmaceutical companies. The company has licensed the RenMiceTM platform to 14 companies, including Merck Healthcare KGaA, BeiGene, Xencor and Innovent; 32 projects have initiated. Additionally, the company has reached 24 preclinical antibody co-development or license agreements with 15 companies, including Merck Healthcare KGaA, RemeGen, China Resources Biopharm, Nanjing Chia-Tai Tianqing Pharmaceutical Company (NJCTTQ) and LiberoThera. The company is also collaborating with partners such as Remgen, TRACON and Gene Quantum to co-develop preclinical and clinical antibody drug pipelines.
When picturing the future of Biocytogen, Dr. Yuelei Shen, Founder, Chairman and CEO, said: “Biocytogen’s fast growth and development is impossible without the efforts of all employees, the strong support of local government, shareholders, and global collaborators. Listing on the Hong Kong Stock Exchange is the recognition of our company’s past achievements and the trust for our company’s future growth from the capital market. We believe that with the help of the HKEX listing, Biocytogen will further strengthen innovative research and development, continue to produce high-quality products and services, and persist in flexible and mutually beneficial business collaboration models. As a biotechnology company rooted in China with a global view, we strive to further accelerate the globalization of the company’s business and give back to our shareholders, employees, and society with excellent achievements and financial return.”