On March 23, 2020, InnoCare (Hong Kong Stock Exchange Code: 09969) was officially listed on the main board of The Stock Exchange of Hong Kong Limited (Hong Kong Stock Exchange). InnoCare issued 250, 324,000 shares worldwide at HK $ 8.95 per share, raising approximately HK $ 2.24 billion. The company intends to use raised proceeds primarily for the company's core drug candidates, clinical development of other drug candidates in the pipeline, marketing authorization and external introduction of new projects, etc., and begin the commercialization process and layout of products.
InnoCare focuses on two major therapeutic areas, cancers and autoimmune diseases, that have significant market opportunities and synergistic benefits. In less than five years, guided by the global vision of the management team, Innocare has achieved many great milestones, including the discovery and development nine Drug candidates, the submission of 2 NDA applications for core drug candidate ,Orelabrutinib (ICP-022), progressing the second and third drug candidates through Phase I / II clinical trials, and the IND application submission for the fourth drug candidate. These drugs have the potential to meet the huge, unmet, medical needs and benefit patients worldwide. InnoCare has been favored by many well-known investment institutions in the several rounds of financing so far, with its core competitiveness in research and development, balanced drug pipelines, and excellent teams.
InnoCare co-founder, chairman and CEO Dr. Cui Jisong said: "Listing on the Hong Kong Stock Exchange marks a new era for InnoCare! In January of this year (2020), InnoCare was happy to report that the NDA for Orelabrutinib was included in the priority review by the NMPA. We are also happy to report that the new indication for Orelabrutinib was also accepted by the NMPA earlier this month. InnoCare was listed on the Hong Kong Stock Exchange today is also the first IPO of a biopharmaceutical company on the HKEX in 2020. This not only reflect the strong cohesion and execution of our team, but also a powerful demonstration of InnoCare's strong commitments. We were honored and heartened to hear the listing bell. Thank you for your recognition, affirmation and support of InnoCare from all walks of life. Starting from this, we will continue to make great strides on the road of innovative research and development, and we are committed to developing and providing innovative therapies for patients around the world, providing growth opportunities for our employees, creating value for shareholders, and shouldering more social responsibilities! "
InnoCare (Hong Kong Stock Exchange Code: 09969) was co-founded by Dr. Cui Jisong, an outstanding corporate manager in the biomedical industry, and Professor Shi Yigong, a world-renowned structural biologist. Focusing on the development of a new class of drugs for the treatment of tumors and autoimmune diseases, InnoCare aims to provide therapies to a variety of solid tumors and autoimmune diseases such as lymphoma, liver cancer, and gastric cancer in Chinese patients. InnoCare has branches in Beijing, Nanjing, Shanghai, Guangzhou, New Jersey, and Boston.