--- title: "Market value exceeds 14.5 billion! The innovative drug invested by Tencent has been launched" type: "News" locale: "en" url: "https://longbridge.com/en/news/291088181.md" description: "On June 29th, ALEBUND-B officially listed on the main board of the Hong Kong Stock Exchange, with an issue price of HKD 22.6. Tencent Investment and 11 cornerstone investors participated in the subscription. The company focuses on the kidney disease sector, with its core product AP301 used for the treatment of hyperphosphatemia, and it has already commercialized the product Meixinluo" datetime: "2026-06-29T03:52:22.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291088181.md) - [en](https://longbridge.com/en/news/291088181.md) - [zh-HK](https://longbridge.com/zh-HK/news/291088181.md) --- # Market value exceeds 14.5 billion! The innovative drug invested by Tencent has been launched The Hong Kong stock market's innovative drug sector welcomes another IPO worth over 10 billion. On June 29, ALEBUND officially listed on the main board of the Hong Kong Stock Exchange. The issue price was HKD 22.6, opening up 85.84% to HKD 42; as of the time of writing, the stock has risen 89.56% to HKD 42.84, with a total market capitalization of HKD 14.559 billion. In this IPO, ALEBUND introduced 11 cornerstone investors, including Singapore's sovereign fund GIC, Tencent Investment, RTW Medicine Special Fund, GF Fund, and Huatai-PineBridge, among other leading institutions both domestically and internationally, collectively subscribing approximately USD 81.5 million (equivalent to about HKD 639 million), holding 49.78% of the global offering. Founded in 2018, ALEBUND was co-founded by seasoned biotechnology entrepreneur Xia Guoyao and nephrologist Tian Jin, who has extensive clinical experience. Since its establishment, the company has focused on the niche of kidney diseases, deeply engaging in the research and commercialization of innovative drugs. Leveraging the industrial experience and clinical resource advantages of its core founding team, ALEBUND has built a rich and competitive product pipeline. As of the last feasible date, ALEBUND's clinical and preclinical product portfolio consists of one core product, AP301, and six other candidate products, including: one late-stage clinical candidate (AP306), one preclinical candidate drug (AP303), and four preclinical candidate drugs (AP308, AP304, AP305, and AP307). Among them, the company's core product AP301 is a unique phosphate binder used for the treatment of hyperphosphatemia. Hyperphosphatemia is one of the most common complications of chronic kidney disease (CKD), with a significant unmet medical need. AP301 has completed Phase III registration clinical trials in China and is expected to submit a new drug application soon, currently conducting global Phase III key multicenter clinical trials in the United States and China. In addition to its pipeline, ALEBUND has a commercialized product, Meixinluo, which is a long-acting erythropoietin (EPO) used for the treatment of anemia associated with CKD. It is the world's first long-acting EPO approved for monthly administration. After obtaining the commercialization rights for Meixinluo® in China, ALEBUND promptly included it in the 2023 National Medical Insurance Drug List in China. As of the last feasible date, Meixinluo has entered over 300 hospitals in China. In terms of performance, ALEBUND's revenue for 2023, 2024, and 2025 is estimated to be approximately zero, CNY 6.525 million, and CNY 30.556 million, respectively; the losses during this period are expected to be CNY 365 million, CNY 335 million, and CNY 752 million, primarily due to research and development expenses incurred to support the development of various R&D pipelines. Continuous investment in R&D and commercialization relies on strong capital support. Before going public, ALEBUND gathered a number of top investment institutions, with a luxurious shareholder lineup that includes Eli Lilly Asia Fund, Tencent, GIC, Qianchuang Capital, and Zhengxin Valley, among other well-known capital both domestically and internationally From the perspective of the pre-IPO equity structure, the company's equity structure is stable, and the core founding team firmly controls the direction of the company's development. Before the IPO, Dr. Xia Guoyao, Dr. Tian Jin, Dr. Shu Chutian, Ms. Wang Yun, and Dr. Zhang Huading formed a concerted action team, collectively controlling 24.5018% of the company's shares through direct and indirect holdings, making them the core controlling shareholders of the company. At the same time, the shareholding ratios of major institutional shareholders are clear and distinct, with Tencent holding 11.732%, making it an important institutional shareholder; Guojin Securities holds 9.6166%, Eli Lilly Asia Fund (LAV USD) holds 8.3386%, and Huagai Capital holds 1.9864%. The successful listing on the Hong Kong Stock Exchange also injects new momentum into the subsequent development of ALEBUND. The funds raised by ALEBUND will be used to promote the preclinical development of product candidates in the pipeline, upgrade production capacity, and commercialize candidate drugs, with the potential to continuously explore the incremental value of innovative drugs in the nephrology sector in the future ### Related Stocks - [09637.HK](https://longbridge.com/en/quote/09637.HK.md) - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [000776.CN](https://longbridge.com/en/quote/000776.CN.md) - [01776.HK](https://longbridge.com/en/quote/01776.HK.md) - [600109.CN](https://longbridge.com/en/quote/600109.CN.md) - [TCEHY.US](https://longbridge.com/en/quote/TCEHY.US.md) - [80700.HK](https://longbridge.com/en/quote/80700.HK.md) - [HTCD.SG](https://longbridge.com/en/quote/HTCD.SG.md) - [TCTZF.US](https://longbridge.com/en/quote/TCTZF.US.md) ## Related News & Research - [Biotech Firms Push Weight-Loss and AI Pipelines Amid Buyback Wave](https://longbridge.com/en/news/291029476.md) - ['One-time opportunity': South Korea bets big on AI boom](https://longbridge.com/en/news/291102407.md) - [Baidu's AI chip unit Kunlunxin targets $50 billion Hong Kong IPO, The Information reports](https://longbridge.com/en/news/291063810.md) - [Samsung Electronics, SK Hynix to invest in two new fabrication sites in South Korea, government says](https://longbridge.com/en/news/291096842.md) - [Samsung And SK Group To Announce $1.3 Trillion Semiconductor Investment Plan In South Korea : Report](https://longbridge.com/en/news/291084595.md)