Antengene Corporation Limited Successfully Lists on Hong Kong Stock Exchange, Focused on Innovative Anti-Cancer Therapies

On November 20, 2020, Antengene Corporation (hereinafter referred to as “Antengene”; HKEX Stock Code: 6996.HK), a leading company focused on the research and development and commercialization of innovative oncology drugs, was officially listed and commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEX”). The opening price on the first day of listing was HK$19.6, and the quoted price at the time of press release was HK$18.82, representing an increase of 4.093%.

ANTENGENE CORPORATION offered a total of 154,153,500 shares in its global offering, with an offer price of HK$18.08 per share. After deducting underwriting fees and commissions paid and payable for the global offering as well as estimated expenses, the net proceeds from the global offering to the Company are estimated to be approximately HK$2,635.9 million. The Hong Kong public offering was significantly oversubscribed, receiving valid applications for approximately 264.76 times the initial number of offering shares available for subscription, while the international offering was also oversubscribed by approximately 13.5 times. The final number of offering shares allocated to the Hong Kong public offering and the international offering were 77,077,000 shares and 77,076,500 shares, respectively, each accounting for approximately 50% of the initial total number of offering shares available for subscription under the global offering before any exercise of the over-allotment option.

ANTENGENE CORPORATION focuses on innovative anti-tumor drugs. Based on a differentiated strategy of combination and complementary R&D, the company discovers, develops, and commercializes synergistic first-in-class, only-in-class, and/or best-in-class therapies to fully unlock the therapeutic potential of candidate drugs. Currently, ANTENGENE CORPORATION has established an innovative R&D pipeline comprising 12 assets, primarily focused on oncology. Among them, one of the core products, ATG-010 (selinexor, marketed in the United States under the trade name XPOVIO®), is the first-in-class and only-in-class selective inhibitor of nuclear export (SINE). It promotes the accumulation of tumor suppressor proteins within the cell nucleus, thereby selectively inducing apoptosis in cancer cells. This product has been approved by the U.S. FDA for the treatment of patients with relapsed or refractory multiple myeloma and diffuse large B-cell lymphoma.

Currently, Antengene Corporation is conducting Phase II registration clinical trials in China for ATG-010 (selinexor) in the treatment of relapsed/refractory multiple myeloma and relapsed/refractory diffuse large B-cell lymphoma, and plans to submit New Drug Applications for ATG-010 (selinexor) before 2021 in mainland China, Hong Kong SAR, Taiwan Region, Australia, Singapore, South Korea, and Thailand. In addition to ATG-010, two other promising investigational SINE compounds—ATG-016 (eltanexor) and ATG-527 (verdinexor)—are being developed as monotherapies and in combination regimens to cover a broad range of indications.

ATG-008 (onatasertib), a second-generation oral dual mTORC1/2 inhibitor, has the potential to overcome resistance to traditional mTORC1 inhibitors. Currently, Antengene is conducting studies on ATG-008 as monotherapy and in combination regimens for advanced solid tumors. ATG-019 (KPT-9274) has the potential to become the first-in-class oral dual PAK4/NAMPT inhibitor for the treatment of non-Hodgkin lymphoma (NHL) and advanced solid tumors. ATG-017 (AZD0364) is a potent and selective ERK1/2 inhibitor with best-in-class potential for treating various hematologic malignancies and solid tumors caused by abnormalities in the RAS/MAPK pathway.

Furthermore, Antengene Corporation is dedicated to early preclinical research and new drug development for multiple innovative targeted therapies in the fields of small molecules, monoclonal antibodies, and bispecific antibodies. Products including ATG-101 (PD-L1/4-1BB bispecific antibody), ATG-018 (ATR inhibitor), ATG-022 (Claudin 18.2 monoclonal antibody), and ATG-012 (KRAS inhibitor) are currently being rapidly advanced.

Dr. Mei Jianming, Founder, Chairman, and Chief Executive Officer of Antengene Corporation, brings over 25 years of global clinical development experience in oncology drugs, with a focus on the clinical research and development of oncology therapeutics. Other members of the management team have demonstrated outstanding achievements in drug research, clinical development, commercialization, financing, and investment. Since its inception, Antengene has garnered favor from industry-leading investors, including strategic investors such as Celgene, WuXi AppTec, and Tigermed, as well as financial investors including Fidelity Investments, Government of Singapore Investment Corporation (GIC), BlackRock, Hillhouse Capital, Boyu Capital, FountainVest Partners, and Qiming Venture Partners. Furthermore, Fidelity Investments, GIC, BlackRock, Boyu Capital, Cormorant Asset Management, Hillhouse Capital, Sequoia Capital China, Chenling Capital, Laurion Capital Master Fund, and Octagon Investments are all cornerstone investors in the Company’s global offering.

Dr. Mei Jianming, Founder, Chairman, and Chief Executive Officer of Antengene Corporation, stated: “Today marks a significant milestone in the development journey of Antengene. Our successful listing on the Hong Kong Stock Exchange reflects the global investment community’s strong confidence in our strategic model, growth potential, management team, and product pipeline. We are proud of this achievement and deeply grateful to investors for their trust and support in Antengene. Standing at this new starting point, we will seize the historic opportunities presented by the global advancement of innovative medicines. By employing differentiated development strategies and focusing on cutting-edge research frontiers, we will continue to discover, develop, and commercialize novel oncology therapies with new mechanisms of action, addressing unmet clinical needs among patients in the Asia-Pacific region and worldwide.”

The funds raised in this offering will be primarily used for clinical trials and commercialization of products under development, including driving the market launch of the core product ATG-010 in the Asia-Pacific region, advancing nine ongoing clinical trials and the preclinical development of six pipeline candidates, enhancing in-house R&D capabilities, and strengthening potential collaborations with leading global pharmaceutical companies. Additionally, the proceeds will be allocated to pipeline expansion and talent acquisition, further solidifying the company’s R&D foundation, accelerating clinical research, and ultimately benefiting patients at an earlier stage.

ANTENGENE CORPORATION is an Asia-Pacific-based, clinical-stage biopharmaceutical company focused on innovative anti-tumor drugs. ANTENGENE aims to provide patients in the Asia-Pacific region and around the world with innovative anti-cancer therapies featuring novel mechanisms of action. Since its establishment, ANTENGENE has built a robust pipeline comprising 12 innovative drug candidates at various clinical and preclinical stages, obtained nine clinical trial approvals, and initiated nine multi-regional clinical trials across the Asia-Pacific region. The company’s products in development focus on innovative targets or mechanisms of action, including candidates with the potential to become first-in-class therapies. Guided by its vision of “Boundless Healing, Perpetual Innovation,” ANTENGENE strives to address unmet clinical needs among patients in the Asia-Pacific region and globally through the dedicated research, development, and commercialization of first-in-class and best-in-class medicines.