IPO News | Hansatech raised operating losses during the track record period through the Hong Kong Stock Exchange hearing

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on December 3, Hansaitai Biomedical Technology (Wuhan) Co., Ltd. (abbreviation: Hansaitai) passed the Hong Kong Stock Exchange's main board listing hearing, and ICBC International was its sole sponsor. According to the prospectus, Hansai Tech is a biotechnology company with independent expertise and experience in structural biology, translational medicine, and clinical development. Since 2016, the company has developed a product pipeline, which includes a core product and nine candidate products for other pipelines, namely: (i) three clinical-stage drug candidates for oncology, including the company's core products HX009 and HX044; (ii) seven pre-clinical drug candidates, including antibody-conjugated drugs, bispecific antibodies and monoclonal antibodies for the autoimmune and tumor markets. The company also developed HX008, which has been transferred to a biopharmaceutical company focused on oncology therapy.

The company's core product, HX009, is a self-developed anti-PD-1 (an immune checkpoint receptor) /SIRPα bifunctional antibody fusion protein. The company has completed phase I clinical trials of HX009 in Australia and China. The company is currently conducting three HX009 clinical projects in China, namely: (i) the HX009-I-01 Chinese study for advanced melanoma (phase Ib); (ii) the HX009-II-02 Chinese study for relapsed/refractory EpsteinBarr virus-positive non-Hodgkin lymphoma (phase I/II); and (iii) the HX009-III-05 Chinese study (phase IIa) for the treatment of advanced biliary tract cancer. The company also obtained approval from the State Drug Administration for a joint study of HX009 and trastuzumab in the treatment of advanced triple-negative breast cancer patients in February 2025, and the company expects that the first patient recruitment for this joint study will be completed in 2026.

The company also has two main products (namely HX301 and HX044). The two products are in the clinical stage and focus on treating cancer. HX301 is a multi-target kinase inhibitor targeting key pathways such as CSF1R, ARK5, FLT-3, and CDK4/6. The company has completed a phase I clinical study on HX301 as approved by the State Drug Administration, and is currently conducting a phase II clinical study of HX301 combined with temozolomide in the treatment of glioblastoma in China. HX044 is a novel dual-function anti-CTLA-4 (an immune checkpoint receptor) antibody SIRPα fusion protein, which aims to improve the targeted efficacy of CTLA-4. The company is currently conducting phase I/IIa clinical studies of Hx044 for the treatment of advanced solid tumor malignancies in Australia and China.

It is worth noting that Hansatec does not guarantee that the company will eventually be able to successfully develop and list the company's core products or any pipeline products.

On the financial side, the company generated operating losses during the performance recording period. For the year ended 31 December 2023 and 2024, and for the eight months ended 2024 and August 31, 2025, the total overall losses of the company were approximately RMB84.623 million, RMB117 million, RMB48.178 million and RMB87.81,000, respectively. The majority of the company's losses came from R&D costs, other expenses, administrative expenses and interest expenses due to the expansion of the company's business operations.