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Kintor Pharmaceutical successfully listed on HKEX today

  • Time of issue:2020-05-22

(Summary description)Kintor Pharmaceutical Limited (Stock Code:9939.HK) has successfully been listed on the Main Board of the Stock Exchange of Hong Kong Limited on 22,May 2020.

Kintor Pharmaceutical successfully listed on HKEX today

(Summary description)Kintor Pharmaceutical Limited (Stock Code:9939.HK) has successfully been listed on the Main Board of the Stock Exchange of Hong Kong Limited on 22,May 2020.

  • Categories:Company news
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  • Time of issue:2020-05-22 15:40
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Kintor Pharmaceutical Limited (stock code:9939.HK, “Kintor” or the “Company” ) has successfully been listed on the Main Board of the Stock Exchange of Hong Kong Limited on 22,May 2020. Kintor Pharmaceutical raised a total amount of USD $ 240 million(assuming the over-allotment option is not exercised), by offering 92,347,500 shares priced at HK$20.15 per share. The company’s public offering was on fire, which was more than 550 times oversubscribed and with over HK$100 billion assets frozen. The netproceeds from the offeringwill beusedto synergize the clinical development and commercialization of thecompany‘skey drug candidate, Proxalutamide and Pyrilutamide. Also the proceeds will be used for other drug clinical trials, pre-clinical stage drug development, expanding the company’s working capital and drug portfolio.
Many government leaders as Suzhou Municipal Standing Committee, secretary of the Party working Committee of Suzhou Industrial Park,  Qingwen Wuparticipated inKintor’s grand listing ceremony on HKEX today. All the shareholders, employees and partners of Kintor across the globe shared the joy and witnessed the listing ceremony “on the air” meanwhile.
Depending on Kintor’s Androgen receptor (AR)-related disease R&D superiority, outstanding management team and powerful product pipeline, the company has drew attention from multitudinous well-known investors, since 2009, when the company was first founded. The company has completed 5 rounds of financing. The main investors include Oriza Flight, Legend Star, Bio Venture Capital, Highlight Medical, Green Pine Capital, and Shanghai Free Trade Zone Fund. TheIPO has introduced three cornerstone investors, whom subscribsa total USD $115 million’s shares,including the Gree Group,Highlight Medical, and Foresight Fund. All the cornerstone investors represent their high recognition for the company’s innovative ability and development prospects.
Over ten years’ efforts, the company has developed a diversed product pipeline with androgen receptors (AR) related diseases as the basis with four small molecule drugs and one antibody in clinical trials, all of which covers high incidence tumors and other AR-related diseases, including prostate cancer, breast cancer, hepatocytes carcinoma, androgenetic alopecia, acne vulgaris and ect., all with great market potential.All the five clinical drug candidates are for unmet medical needs: ARantagonist Proxalutamide(GT0918), topical ARantagonist Pyrilutamide (KX-826),anti-angiogenesis ALK-1,a fully humanized monoclonal antibody(GT90001), mTOR inhibitors (GT0486)and Hedgehog/SMO inhibitors(GT1708F).The company also has diversed preclinical programs ongoing, such as AR - Degrader, c - Myc inhibitors and IDO inhibitors, etc.
The Company’s core drug candidate, Proxalutamide, is a potential best-in-class drug with two phase III clinical trials in China ongoing for metastatic castration-resistant prostate cancer(mCRPC),  and one phase II clinical trial ongoing in the United States and in phase Ic clinical trial for breast cancer in China. The company will apply for NDA(New Drug Application)of Proxalutamide monotherapy for mCRPC this year.Another potential first-in-class innovative drug, Pyrilutamide an androgen receptor antagonist, indicated for androgenic alopecia, ,is under phase II clinical trial in China and phase Ib clinical trial in the United States. We believe that Pyrilutamide has the potential to redefine the market for androgenetic alopecia and acne vulgaris. Manufacturing base for new drugs, such as Proxalutamide has already been built and will be put into use in H2 of the year. An efficient in-house commercial team is been built for products’ promotion and commercialization.All the news suggest a significant transition of Kintor from an innovate biotech company upgrading to a pharmaceutical company with a whole industrial chain.
The company focuses on the proprietary R&D, expanding partnership with multinational pharmaceutical companies to form a global strategy based on China. ALK-1 antibody, GT90001is a fullyhumanized monoclonal antibody, which Kintor gained an exclusive global license from Pfizer, with the expectation to be first-in-class innovative drug for multiple solid tumors treatment. The ALK-1 monoclonal antibody is currently undergoing phase II clinical trial in combination with Nivolumab (PD-1 antibody)for the treatment of metastatic HCC in Taiwan.
“Getting listed on the Hong Kong Stock Exchange is a significant milestone to our company’s development and growth. Standing at a new starting point of Kintor’s development, we will be upgraded from a biotech company to a pharmaceutical company in the future. Meanwhile with the assistance of capital market, we will devote to providing better treatment for patients all over the world, creating value for our shareholders and society by accelerating clinical studies and commercialization progress of our new drug candidates. ” said Dr. Youzhi Tong, Kintor's Founder,President and CEO.
 
 

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