IPO News | Yinnuo Pharmaceuticals Hong Kong Stock IPO Filed by China Securities Regulatory Commission

Zhitong Finance App learned that on May 29, the China Securities Regulatory Commission issued a notice on the “full circulation” of overseas issuances and domestic unlisted shares of Guangzhou Yinnuo Pharmaceutical Group Co., Ltd. Yinnuo Pharmaceuticals plans to issue no more than 69,043,500 overseas listed common shares and list them on the Hong Kong Stock Exchange. In addition, the 45 shareholders of the company intend to convert a total of 383,729,000 domestic unlisted shares into overseas listed shares and list them for circulation on the Hong Kong Stock Exchange.

According to the prospectus, Yinnuo Pharmaceutical is the first company in Asia and the third company in the world to advance the original research of the human-derived long-acting glucagon-like peptide-1 (GLP-1) receptor agonist to the registration approval stage. The company's core product, esupaglutide α (trade name: InnoLight), is about to enter the commercialization stage. Since its inception in 2014, the company has been working to research and develop innovative treatments for diabetes and other metabolic diseases.

As of November 24, 2024, the company has established a pipeline, including esupaglutide α for the treatment of type 2 diabetes (T2D) and a combination drug with metformin, all of which have been accepted by the NMPA; Espaglutide α is used to treat obesity and overweight, and the company is conducting phase IIa clinical trials in China and is expected to achieve major endpoint results by the end of 2024; Espaglutide α is used to treat metabolic disorder-related fatty hepatitis (MASH), and the company has obtained approval from FdaIndy to launch phase IIIA The trial will also launch a MASH multi-center clinical trial in the US and China; and five promising or pre-clinical drug candidates that have entered the IND phase.