Chengdu Zelion BioPharma Files for HKEX IPO with $475M Valuation, Advancing Two Phase III Drug Candidates

Jan 15, 2026 08:01 CST Updated 08:01

Zenitar

Innovative Drug R&D and Industrialization Service Provider

January 13,Zenitar Submits Application for HKEX ListingJefferies and CICC served as joint sponsors.

Zenitar was registered as a limited liability company in April 2019 to carry out an early-stage research project. The project originated from the Chairman of the Board, Executive Director and Chief Executive Officer, and Chief Scientific Officer.Dr. Chen LijuanResearch achievements in the field of small molecule therapy during the tenure at West China Hospital of Sichuan University.

At the time of its establishment, according to the internal policies of West China Hospital of Sichuan University, its affiliated company, Sichuan Huaxi Health Technology Co., Ltd. ("Huaxi Health"), held a minority stake in Zenitar. Since its inception, Dr. Chen has been responsible for the company's operations and management, focusing on promoting the long-term development and success of Zenitar.

Zenitar focuses on developing highly differentiated small molecule therapies, striving to achieve first-in-class or best-in-class within the same category.

The company integrates structural biology, artificial intelligence (AI), and clinically relevant disease models to build three proprietary platforms:ZeniFold（Structure-Based Drug Discovery Platform）、ZeniMind（AI-Assisted Molecular Design and Optimization Platform）and ZeniScreen（Clinically Relevant Disease Model Platform）These three platforms are capable of designing and optimizing structurally complex therapeutic molecules. Through iterative experimental validation, they identify candidate drugs with improved target selectivity, potency, and safety, accelerating the development of innovative drugs.

Zenitar has established byDiversified Pipeline Composed of Eight Proprietary AssetsCovering both clinical and preclinical stages. Among them, two candidate drugs have entered the Phase III registrational clinical trial stage, including the JAK2/FLT3/CDK6 inhibitor Flunotinib Maleate (FM) for the treatment of myelofibrosis, and the HDAC I/IIb inhibitor Puyisite Mesylate for Injection (PM) for the treatment of relapsed/refractory diffuse large B-cell lymphoma (relapsed/refractory DLBCL).

Other candidate drugs in the pipeline cover a variety of key targets, includingPARP1 inhibitor ZL-85, MEK/RAF molecular glue ZL-89, NLRP3 inhibitor ZL-65, RIPK1 inhibitor ZL-59, JAK3 inhibitor ZL-82, and RIPK2 inhibitor ZL-69, showcasing the company's extensive layout in the field of small molecule drug innovation and multi-target treatment.

On November 21, 2025, Zenitar completed a C-round financing of 511 million yuan, with a post-investment valuation of 3.411 billion yuan.

Main shareholders of Zenitar are as follows:

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