2021 Global Unicorn Ranking: Key Biopharmaceutical Investment Targets to Watch!

The Hurun Research Institute recently released the "Global Unicorn Index 2021." The index compiles statistics on non-listed companies founded globally after the year 2000, with a valuation of over $1 billion in their latest major funding round. Within the list, biotechnology companies have emerged as a standout sector. Vaccine companies, in particular, warrant close attention due to the rapid expansion of their market size, driven by a combination of factors including the widespread adoption of innovative vaccines, heightened health awareness, and increased willingness to get vaccinated.

The list features 31 biotechnology companies, with 16 from China, accounting for half of the total. Aimei Vaccine (RMB 30 billion), Abogen Biosciences (RMB 27 billion), and Fapon Biotech (RMB 19.5 billion) rank as the top three domestic biotechnology companies.

Notably, among the 16 Chinese biotech companies on the list, 12 are newcomers this year. These 12 companies are Aim Vaccine, Abogen Biosciences, Fapon Biotech, Recombinant Bio, Ascendis Pharma China, TianGuangShi Biologics, Boao Jingdian, Dima Biologics, Lepu Biopharma, Pengcheng Biology, SwellBio, and Advenchen Laboratories.

Six companies are valued at over RMB 10 billion: Aim Vaccine (RMB 30 billion), Abogen Biosciences (RMB 27 billion), Fapon Biotech (RMB 19.5 billion), Hualan Biological Vaccine (RMB 12 billion), and Mingma Biotechnology (RMB 10 billion). Aim Vaccine is the only biotechnology enterprise in China on the list with a valuation exceeding RMB 30 billion.

It is reported that Aim Vaccine initiated its plan to list in Hong Kong in 2021. According to informed sources, the company has recently passed the hearing by the Hong Kong Stock Exchange. As China’s largest private integrated vaccine group covering the entire industry chain, Aim Vaccine achieved a compound annual growth rate of 98.7% in net profit over the past three years. Its commercialized products comprehensively cover six of the most common vaccine-preventable diseases in China. The company’s R&D pipeline includes 23 products targeting 13 disease areas, among which PCV13, PCV20, the bivalent hand, foot and mouth disease vaccine (EV71-CA16), and MCV4 are all global blockbuster products. In particular, Aim Vaccine’s highly anticipated mRNA COVID-19 vaccine, independently developed in China, has attracted significant market attention and expectation.

Looking ahead, Rupert Hoogewerf stated, “We predict that the biotechnology sector will produce the largest number of future unicorns, and there will also be more B2B enterprises.” Regarding the Hurun Unicorn List, industry observers note that for startups, the “unicorn” title is not only a testament to their current strength but also an affirmation of their future potential. What generates anticipation is not merely the surge in valuations, but also the possibilities sparked by these unicorns’ eventual public listings.