02561 維昇藥業－Ｂ
VISEN PHARMA-B
VISEN PHARMA-B
| Register Close | 2025/03/18 IPO Closing in 5 Days |
| Listing Date | 2025/03/21 |
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IPO Detail
COMPANY PROFILE
VISEN Pharmaceuticals was founded in November 2018, it is a late-stage, near-commercialization biopharmaceutical company focused on providing treatments in selected endocrinology diseases in China.
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The Group have one Core Product and two other pipeline drug candidates. The Group’s Core Product, lonapegsomatropin, is a once-weekly long-acting growth hormone replacement therapy for the treatment of pediatric growth hormone deficiency, a common short stature in patients aged under 18 caused by insufficient growth hormone. Lonapegsomatropin has completed phase 3 pivotal trials in China.
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TransCon CNP (navepegritide), one of the Group’s key drug candidates, is a long-acting prodrug of c-type natriuretic peptide for the treatment of achondroplasia, a short-limbed dwarfism which results in severe skeletal complications and comorbidities. Palopegteriparatide, the other key drug candidate, is a once-daily parathyroid hormone replacement therapy for the treatment of chronic hypoparathyroidism, a syndrome of abnormal calcium and phosphorus metabolism caused by decreased secretion or defective function of PTH.
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As of 13 March 2025, the Group holds two pending patent applications in sole ownership relating to lonapegsomatropin, and two issued patents and nine pending patentapplications in joint ownership in the PRC in relation to our development of container closure system.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Health Care |
| Major Business Area | China |
| Board Lot | 100 |
GLOBAL OFFERING
| No. of Offer Shares | 9.90M shares |
| No. of International Offer Shares | 8.91M shares |
| No. of HK Offer Shares | 0.99M shares |
| Offer Price | $68.44 - $75.28 |
| Stock Code | 2561 |
| Sponsor(s) | Morgan Stanley Asia Limited, Jefferies Hong Kong Limited |
| Underwriter(s) | Morgan Stanley Asia Limited, Jefferies Hong Kong Limited, CLSA Limited, Futu Securities International (Hong Kong) Limited, Guoyuan Securities Brokerage (Hong Kong) Limited, Soochow Securities International Brokerage Limited, Patrons Securities Limited, Ruibang Securities Limited |
TIME TABLE
| Application Period | Mar 13 (Thu) - noon, Mar 18 (Tue) |
| Price Determination Date | Mar 19 (Wed) |
| Result Announcement Date | On or before Mar 20 (Thu) |
| Result Announcement Date | On or before Mar 20 (Thu) |
| Result Announcement Date | On or before Mar 21 (Fri) |
| Dealings in Shares commence on | Mar 21, 2025. (Fri) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $68.44 - $75.28 |
| Capitalization | 7.70B - 8.46B |
| NAV / share ($) | $8.48 - $9.06 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 71.86, the net proceeds raised would be HKD 603.30M, of which |
| 84% : To fund BLA registration of imported Core Product of BLA and planned commercial launch of Core Product lonapegsomatropin |
| 7.6% : To fund OLE portion of China Phase 3 pivotal trial and preparation for commercial launch of palopegteriparatide |
| 1.8% : To fund open-label portion of TransCon CNP (navepegritide) and relevant analysis for the treatment of ACH |
| 6.6% : Ｗorking capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).