“淘宝之父”孵化一个IPO

Core Viewpoint - Mirxes Holding Company Limited, known for its "blood test for cancer," is nearing the end of its IPO process after four rounds of applications, with plans to list on the Hong Kong Stock Exchange on May 23, 2023, aiming to raise a net amount of HKD 888 million through the issuance of 46.62 million shares at HKD 23.30 each [1]. Group 1: IPO Details - The company has secured cornerstone investors, including Beijing Xunrui and Evergreen Gate, who have collectively subscribed to USD 57.92 million, accounting for 41.37% of the global offering shares and 6.98% of the total share capital post-IPO [2]. - Beijing Xunrui, a significant investor, is indirectly controlled by the Jiujiang State-owned Assets Supervision and Administration Commission, while Evergreen Gate is a wholly-owned subsidiary of Fosun International, indicating a strategic interest in the biotech sector [2][3]. Group 2: Financial Background - Mirxes has raised a total of USD 167.2 million across three financing rounds (B, C, D), attracting notable institutions such as China Chengtong, Jiancheng Kaiyuan, and Nohow Venture Capital [5]. - Despite substantial fundraising, the company faces cash flow pressures, with cash and cash equivalents dropping from USD 102 million at the end of 2021 to USD 261.24 million by Q1 2025, alongside increasing annual losses projected at USD 56.2 million, USD 69.6 million, and USD 92.2 million for 2022-2024 [6]. Group 3: Product Development - The core product, GASTROClear, is a gastric cancer early screening tool that requires only 5 milliliters of blood to detect 12 miRNA biomarkers, having received regulatory approval in Singapore in 2019 and breakthrough device designation from the FDA in 2023 [6][7]. - GASTROClear has not yet launched in China, but a Class III registration application was submitted in 2023, with expectations for a market introduction in the first half of the year [7]. - The company is also developing additional products, including LungClear for lung cancer screening and a COVID-19 testing kit, with six more candidates in the pipeline [7].