Yizhong launches $160M IPO on STAR to bring paclitaxel micelles to market
Elise Mak ·2 months ago
News


By Danni Yin


Yizhong Pharma raised RMB1.03 billion ($160 million) on Shanghai’s STAR board on Sep. 9 in hopes of moving its core product paclitaxel-loaded micelles to NDA and commercialization.


Backed by Sinolink Securities, the company issued 26.45 million shares at RMB38.1 apiece. Its share price rose 28.58% on the same day to close at RMB49.


Established in 2009, Yizhong is focused on developing modified anti-tumor drugs with its core technologies in the synthesis of nano drug carriers and pharmaceutical polymeric excipients.


Its lead candidate, paclitaxel-loaded micelles, has completed a phase III study as the first-line treatment of advanced non-small cell lung cancer. Yizhong submitted the NDA application to the NMPA in July 2019 and expects the approval to come in the third quarter of 2021.


A chemotherapy drug, paclitaxel has vast market potential in lung, breast, stomach and ovaries cancer. After the approval for NSCLC, Yizhong plans to carry out new indication studies of paclitaxel-loaded micelles.


Other notable candidates include docetaxel micelles and cabazitaxel micelles, both of which are modified formulations of new nano-delivery systems. The two candidates are in preclinical stage and expected to enter clinical trials between 2023 and 2024.

Keywords: Yizhong $160M IPO paclitaxel micelles market Sinolink Securities shares
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