On December 30, 2022 Shandong Boan Biotechnology Co., Ltd. ("Boan Biotech" or the "Company"), a subsidiary of Luye Pharma Group, reported it was officially listed on the Main Board of the Stock Exchange of Hong Kong ("SEHK") under the stock code 6955.HK at an offer price of HK$19.8 per share (Press release, Boan Biotech, DEC 30, 2022, View Source [SID1234625684]). The successful listing on SEHK marks the beginning of a new phase in the development of Boan Biotech, which will be empowered by capital to forge ahead with the goal of becoming a "leading global biopharmaceutical company".

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Founded in 2013, Boan Biotech is committed to developing, manufacturing and commercializing high-quality biologics in China and overseas. It offers innovative and accessible therapeutic solutions in the key therapeutic areas, including oncology, metabolism, autoimmunity, and ophthalmology. As a fully-integrated biopharmaceutical company, Boan Biotech has established its competitive advantages with a differentiated product portfolio, a whole industry value chain system covering "R&D-production-commercialization," and commercialization capabilities that continues to mature.

Differentiated Product Portfolio and Several Drug Candidates with First-mover Advantage

Leveraging its efficient internal innovation capabilities, Boan Biotech developed all its products in-house independently. Currently, its product pipeline includes a portfolio of innovative antibody candidate drugs and biosimilar drug candidates with international intellectual property protection. They provide a clear path for the short-term commercialization of the Company and lay a sound foundation for its long-term sustainable development.

Up to now, Boan Biotech has successfully commercialized two products: the first product, Boyounuo (BA1101), is the third bevacizumab biosimilar approved in China for the treatment of various cancers. The second product, Boyoubei (BA6101), is the world’s first approved denosumab biosimilar for the treatment of osteoporosis.

The Company also has 12 drug candidates, several of which are close to the commercialization stage: BA1102 (denosumab injection, Xgeva biosimilar) for tumors, BA9101 (aflibercept intraocular injection, Eylea biosimilar) for ophthalmology, and BA5101 (dulaglutide injection, Trulicity biosimilar) for metabolism are currently in Phase 3 clinical trials in China, and their progresses of development are at the forefront. In addition, BA6101 and BA1102 are also in Phase 1 clinical trials in the EU. The Company expects to submit biologics license applications ("BLA") for multiple drug candidates successively in the next two years.
In developing innovative antibodies, Boan Biotech pays attention to both "innovation value" and "commercial visibility" to build a product portfolio with differentiated features while accelerating R&D to gain more first-mover advantages. For example, BA1105, an ADCC-enhanced, fully human monoclonal antibody targeting Claudin 18.2 independently developed by the Company, has the potential to become the best targeted drug for the similar treatment of metastatic pancreatic cancer, advanced gastric cancer and adenocarcinoma of the esophagogastric junction. BA1106, a CD25 fully human monoclonal antibody, is the first anti-CD25 innovative antibody to enter the clinical stage in China for the treatment of solid tumors. BA2101, the anti-IL-4Rα fully human monoclonal antibody for autoimmune therapy, is the first new long-acting anti-IL-4Rα drug that has entered the clinical trial stage in China.

Key Strength Covering the Whole Industry Chain Underpinned by a Complete Biological Drug Operation System

Through years of accumulation, Boan Biotech has constructed a complete biological drug operation system starting from scratch. The Company has established three proprietary technology platforms, an integrated ecosystem from R&D to production and commercial operation, as well as an international professional team based in Yantai, Nanjing, Singapore and Boston, thereby laying a solid foundation for efficient development and excellent marketing of the product pipeline.

Through the three technology platforms, Boan Biotech has established a strong technological advantage. Utilizing BA-huMab (a technology platform on which Boan Biotech has developed fully human antibody transgenic mice) and the Phage Display Technology Platform helps increase the efficiency of developing fully human monoclonal antibody products. Boan Biotech is also one of the few companies in China that own proprietary transgenic mice platform. Based on its monoclonal antibody products, the Company has progressively developed specialized drugs such as bispecific antibody and ADC through Bispecific T-cell Engager Technology Platform and ADC Technology Platform, forming a differentiated product portfolio.