Unprofitable Biotech Firms Gain Favor Across US, Hong Kong, and A-share Markets: Which New-Economy 'Unicorns' Will IPO First?
Work: "Dr. Gross's Clinic"
Author: Thomas Eakins
Time: 1875
Visual History of Medicine | Issue 20180902
*The Gross Clinic*, also known as *Dr. Gross’s Clinic*, is a painting created in 1875 by the American artist Thomas Eakins. Many art historians consider it one of the finest American paintings ever produced. Praised for its uncompromising realism, *The Gross Clinic* holds a significant place in the history of medicine, as it honors the emergence of surgery as a therapeutic profession—whereas previously, surgery was primarily associated with amputation—and vividly depicts medical practice in the 19th century.
This week, the China Securities Regulatory Commission (CSRC) responded to the “Proposal on Supporting Unprofitable Biopharmaceutical Companies in Listing and Raising Funds on the ChiNext Board of the A-share Market,” stating that it would “create conditions in accordance with the law to guide innovative enterprises in sectors such as biomedicine that are not yet profitable or have uncovered losses to issue equity financing instruments and list domestically.” This move effectively opens a “fast track” for domestic biopharmaceutical companies seeking public listings. Coupled with earlier reforms in listing rules by the U.S. stock markets and the Hong Kong Stock Exchange, the capital markets in these three regions are now fiercely competing to attract biopharmaceutical “unicorns.” Where do you think innovative biopharmaceutical companies will be most likely to choose for their future listings?
A. Domestic Market
B. Hong Kong Market
C. U.S. Market
D. Other Markets
Few films have managed to captivate the nerves of over a billion people across China and prompt an official directive from the Premier, as *Dying to Survive* has. Behind this phenomenon, beyond the production team’s exceptional craftsmanship and the actors’ compelling performances, lies perhaps something more significant: the social reality reflected by the film’s subject matter.
The growing volume of medical waste poses a serious public health and environmental challenge worldwide. However, despite being “waste,” medical waste is “profitable.” Behind this significant challenge lies the broad development prospects for the medical waste treatment and management industry.
Founded in 2011, Delian Capital is an investment firm focused on technology-driven innovation. It prioritizes technology-centric projects in sectors such as advanced manufacturing, cutting-edge technologies, and healthcare. The firm has invested in dozens of startups across multiple sub-sectors, including robotics, smart hardware, new energy, artificial intelligence, big data, enterprise services, and healthcare.
In today’s increasingly competitive landscape, entrepreneurs can only evolve into a “new species” capable of navigating an ever-changing world by continuously challenging and refining themselves through intense interactions in high-energy, high-density environments. Once evolution becomes a mindset, with the company consistently staying ahead of market expectations, it will secure an invincible position.
Pain is one of the most common clinical symptoms and is recognized as the fifth vital sign, following respiration, pulse, blood pressure, and body temperature, significantly affecting patients' quality of life. According to Wikipedia, pain management or pain control is a small branch of medicine that employs an interdisciplinary approach to alleviate suffering and improve the quality of life for those living with chronic pain.
Dr. William R. Rassman is a highly renowned hair transplant expert in the international community today, hailed as the “Father of Global Hair Transplantation.” Together with another hair transplant specialist, Dr. Robert M. Bernstein, he pioneered the currently most mainstream international hair transplantation techniques, FUE and FUT, both of which hold epoch-making significance in the history of hair restoration. This information has been compiled by VCBeat.
Keywords: Financial Report
Ping An Good Doctor's First Financial Report Since IPO: Revenue of RMB 1.123 Billion, Net Loss of RMB 444 Million
Financial reports show that Ping An Good Doctor's total revenue in the first half of 2018 reached RMB 1.123 billion, representing a 150.3% increase from RMB 448 million in the same period of 2017; the net loss was RMB 444 million, a year-on-year reduction of 2.6%.
Yifeng’s Semi-Annual Report: Profits Surge Amid Intensifying Competition and Fierce Pharmacy M&A Activity
In the first half of 2018, Yifeng reported revenue of RMB 2.993 billion, a year-on-year increase of 33.71%; net profit amounted to RMB 225 million, representing a year-on-year growth of 45.48%.
Dashenlin Releases 2018 Semi-Annual Report, with Operating Revenue of RMB 4.08 Billion
In the first half of 2018, Dashenlin Pharmaceutical Group reported operating revenue of RMB 4.08 billion, a year-on-year increase of 16.61%; net profit attributable to shareholders of the listed company amounted to RMB 288 million, representing a year-on-year growth of 15.92%. As of June 30, 2018, the company operated a total of 3,404 stores.
China Biopharmaceutical2018 H1 Financial Report: Revenue of RMB 9.7 billion, R&D investment of RMB 1.3 billion
In the first half of 2018, China Biopharmaceutical achieved revenue of RMB 9.725 billion, representing a year-on-year increase of approximately 30%. Profit attributable to equity holders of the parent company reached RMB 1.36567 billion, a year-on-year increase of approximately 24.1%. Sales of new products accounted for approximately 14.5% of the Group’s revenue.
Keywords: Acquisition
Orthopedics Giant Stryker to Acquire Minimally Invasive Spine Public Company K2M for $1.4 Billion to Boost Underperforming Spine Business
Orthopedic device manufacturer Stryker announced on Thursday that Stryker (NYSE: SYK) has agreed to acquire all issued and outstanding common shares of K2M Group Holdings, Inc. (Nasdaq: KTWO), a manufacturer of minimally invasive spinal products, in an all-cash transaction at $27.50 per share, representing a total equity value of approximately $1.4 billion.
Yifeng Pharmacy Acquires 53% Stake in Shimin Pharmacy
Yifeng Pharmacy’s subsidiary, Jiangsu Yifeng, will acquire a 53% equity stake in Jiangsu Shimin Grand Pharmacy for RMB 133 million. Jiangsu Shimin Grand Pharmacy is a pharmaceutical retail chain operating 10 chain pharmacies, with its business scope covering pharmaceuticals, medical devices, and related products.
Re-entering the Hyaluronic Acid Market: Huadong Medicine Plans to Acquire UK Aesthetic Company Sinclair for RMB 1.49 Billion
On August 29, Huadong Medicine Co., Ltd. (hereinafter referred to as “Huadong Medicine”) announced that on the 28th, the company entered into a binding offer agreement with Sinclair Pharma plc, proposing to acquire all shares of Sinclair through a cash tender offer.
Keywords: IPO
Backed by Genentech and Pfizer, Protein-Degradation Company Arvinas Launches $100 Million IPO
Arvinas is a biotechnology company focused on developing novel drugs based on protein degradation. Founded in 2013, it currently has approximately 50 employees and expects to expand its workforce to 75 next year. With a small scale, the company operates by collaborating with other partners to develop its internal R&D pipeline. Arvinas is currently applying for an IPO to raise $100 million.
Keywords: Reproductive Medicine
Jinqi Medical Raises Hundreds of Millions in Series A Funding to Further Advance the Development of Its Internet-Based Reproductive Healthcare Platform
Jinqi Medical Completes Series A Financing, Led by Oriental Shiqi, with Investment Amounting to Hundreds of Millions of Yuan, Primarily Used for Acquiring Overseas Medical Institutions and Reproductive Laboratories Holding IVF Licenses, as Well as Further Advancing the Construction and Development of a Nationwide Internet-Based Reproductive Healthcare Platform and Gene and Stem Cell Diagnostic and Therapeutic Technologies.
Keywords: Human Resources
Former Tmall Health General Manager Kang Kai Joins Kangfu Zhijia
Kang Kai, former Director of Alibaba Health and General Manager of Tmall’s Medical Health Division, officially joined Kangfu Zhijia, an omnichannel service provider for home medical devices, in August. He has become a partner of the group and assumed the role of CEO.
This week, in the medical field both domestically and internationally, there are a total of28Financing events.
Vice President of Delian Capital, Zhao Guobao
“Whether in the early or late stages, the entire process of new drug development faces varying risks and yields different returns.” “Risk is ever-present. When evaluating a project, we first consider the risk-to-reward ratio, which is the fundamental logic underlying all investment decisions.”
As for whether a project is in its early or late stage, this is more of a relative concept. None of these projects generate revenue, let alone profits; in any other industry, they would all be considered early-stage ventures. When focusing specifically on the pharmaceutical industry, risk profiles vary across the sector due to scientific and market factors. “We do invest in some challenging projects, but our fundamental principles remain unchanged: we ensure that the risk-return ratio stays within a controllable range.”
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