HONG KONG, Aug 1, 2018 - (ACN Newswire) - Recently, following the official implementation of the revised listing rules by the Hong Kong Stock Exchange (HKEX), the Hong Kong capital market has been opened up further, welcoming listing applications from several biotechnology companies. In particular, Ascletis Pharma Inc., the first biotechnology company successfully lodging its listing application after the overhaul of the listing rules, was listed on the main board of the HKEX yesterday, running ahead of its industrial peers.
As the market benchmark, Ascletis come to front for its listing
Several celebrities such as Charles Li, Chief Executive of HKEX; Xie Shuang Cheng, Deputy Mayor of Hangzhou Municipal People's Government; Song Rui Lin, Executive President of PhiRDA, and Stephen Phillips, Director-General of Investment Promotion of the Government of the Hong Kong Special Administrative Region all attended the listing ceremony of Ascletis to share the joy together.
It was learned that Ascletis has rapidly become a fully integrated anti-viral platform focused on developing, manufacturing and commercializing innovative, best-in-class drugs against HCV, HIV and HBV. Jinzi J. Wu, Ph.D., The founder of Ascletis said in the listing ceremony that over the past five years, Ascletis have stayed true to its original commitment and overcome many obstacles. It has already become the most high-profile new force in China's biotechnology industry by succeeding in building a complete value chain covering new drug development and commercialization for three areas, namely anti-viral, cancer and fatty liver disease, and launching the first domestically developed drug.
As the first listed biotechnology company after the listing rules overhaul, Ascletis has drawn wide market attention and gained positive response since the announcement of its global offering, owing to its unparalleled capabilities. According to publicly available information, HK$2,976.0 million was raised in this offering with an offer price of HK$14.00 per share. The Hong Kong public offering was significantly over-subscribed, while the international placing was over-subscribed as well.
Achieve remarkable achievements
Ascletis originates from a Latin word Asclepius, which refers to the god of medicine in ancient Greek mythology. Ascletis is sure worth this title.
According to Xinhua News, the launching conference for Ganovo (Danoprevir), the first direct-acting anti-viral agent (DAA) developed domestically in China, was held at the China National Convention Center recently. The launching of Ganovo has helped breaking the monopoly of Chinese HCV field by the international pharmaceutical giants. Bringing hope for cure for HCV patients in China
Ascletis announced that Ganovo phase III clinical study won the top clinical research award at the 15th National Congress of Chinese Society of the Infectious Disease of the China Medical Association. As the first DAAdeveloped and launched successfully by a domestic company, the award further reinforces the medical community's confidence in Ganovo's excellent efficacy, better safety and tolerability, strong commitment to high quality drugs, and service to Chinese patients delivered by Ascletis as a local innovative biotech company.
What's more, Ascletis announced it has received the acceptance letter from the China Food and Drug Administration (CFDA) for Ravidasvir new drug application (NDA). The acceptance of the NDA for its all-oral HCV regimen enables Ascletis soon to provide two HCV treatment options for Chinese patients, strengthening its leading position in China's HCV field.
Jinzi J. Wu, Ph.D. said that Ascletis was successfully listed on HKEX in the morning and the NDA for all-oral HCV regimen was accepted by CFDA in the afternoon, these two significant accomplishments on the same day reflect Ascletis' unremitting effort to provide affordable and effective HCV cures to the patients and to fulfill Ascletis commitment to the investors.
The successfully listed of Ascletis has injected new impetus to the Hong Kong capital market and attracted more biotechnology companies to seek a listing in Hong Kong.
Topic: Press release summary
Sectors: Daily Finance, Daily News, BioTech
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