眼科生物科技公司「拨康视云」，递交招股书，拟香港上市，瑞银、建银、华泰联席保荐

Core Viewpoint - Cloudbreak Pharma Inc. (referred to as "Cloudbreak") has submitted a prospectus to the Hong Kong Stock Exchange for a proposed listing on the main board, marking its third attempt after previous applications lapsed [2]. Company Overview - Established in 2015, Cloudbreak is an innovative clinical-stage ophthalmic biotechnology company focused on developing novel and differentiated therapies. The company has built a pipeline of eight candidate drugs targeting major diseases of the anterior and posterior segments of the eye, with four in clinical stages and four in preclinical stages [3][4]. Product Pipeline - Clinical-stage candidates include: - CBT-001 and CBT-004, potentially the world's first treatments for pterygium and vascularized eyelid lesions, respectively. - CBT-006, aimed at treating meibomian gland dysfunction-related dry eye, is a potential first-in-class drug. - CBT-009, a potential best-in-class treatment for juvenile myopia. - Preclinical candidates include: - CBT-007, which aims to improve the success rate of glaucoma filtration surgery. - CBT-145 and CBT-199, new chemical entities for treating presbyopia. - CBT-011, an antibody-drug conjugate for diabetic macular edema [4]. Shareholder Structure - Prior to the IPO, the shareholder structure includes: - Dr. Ni Jinsong and Ms. Bing Leng holding approximately 20.86% and 1.32%, respectively, totaling 22.18%. - Other significant shareholders include Van Son Dinh (7.39%), Yang Rong (1.76%), and various investment firms and trusts [6][7]. Management Team - The board of directors consists of nine members, including: - Executive directors: Dr. Ni Jinsong (Chairman and CEO), Van Son Dinh (COO), and Dr. Yang Rong (CSO). - Non-executive and independent directors contribute to governance and oversight [9][11]. Financial Performance - Cloudbreak has reported no revenue in the past years, with R&D expenses increasing from $8.46 million in 2021 to $27.49 million in 2023. The net losses for the same periods were $35.40 million, $66.84 million, and $129.42 million, respectively [10][12]. IPO Advisory Team - The IPO advisory team includes UBS, CCB International, and Huatai International as joint sponsors, with PwC as the auditor. Legal counsel is provided by various firms for different jurisdictions [10].