Understanding the Market | BioAstute-B surged over 12% during trading, and the IPO registration application for BioAstute on the Sci-Tech Innovation Board has been approved by the China Securities Regulatory Commission

BaiAoSaiTu-B surged over 12% during trading, and as of the time of publication, it rose 9.5% to HKD 25.12, with a transaction volume of HKD 11.1134 million. According to Shanghai Securities News, on October 16, the reporter learned from the China Securities Regulatory Commission (CSRC) website that BaiAoSaiTu's IPO registration application for the Sci-Tech Innovation Board has been approved by the CSRC. According to the prospectus, the company plans to raise HKD 1.185 billion through the IPO, of which HKD 454 million will be used for the construction of a drug early-stage research and development service platform, HKD 316 million for antibody drug research and evaluation projects, HKD 165 million for preclinical and clinical research and development projects, and HKD 250 million for supplementing working capital. Notably, BaiAoSaiTu recently announced that it has reached cooperation agreements with Germany's Tubulis and the globally leading technology company Merck. Tubulis intends to introduce BaiAoSaiTu's independently developed fully human antibodies to advance the research and commercialization of its ADC products. BaiAoSaiTu will receive an upfront payment and will also be entitled to milestone payments for development, regulatory, and commercialization, as well as a single-digit percentage of net sales. The collaboration with Merck focuses on advancing the development of antibody-conjugated lipid delivery solutions for nucleic acid drugs, such as antibody-conjugated lipid nanoparticles (LNP)