应世生物递表港交所 致力于改进目前疗效有限的肿瘤治疗方案

Core Viewpoint - InxMed Limited, a late-stage biotech company focused on improving cancer treatment, has submitted its listing application to the Hong Kong Stock Exchange, with CITIC Securities and CCB International as joint sponsors [1][3]. Company Overview - InxMed Limited was established in 2017 and aims to address the core challenges of cancer treatment, particularly drug resistance caused by tumor defenses [1][3]. - The company focuses on key signaling pathways common across various tumor types, especially the FAK and integrin pathways, which play critical roles in tumor cell survival [3]. Product Pipeline - The product pipeline includes: - Ifebemtinib: A highly selective FAK inhibitor nearing commercialization, currently undergoing multiple clinical development projects in China. It has received breakthrough therapy designation from NMPA for three indications and fast track designation from FDA for one indication, indicating its potential as a cornerstone therapy for cancer [3][4]. - IN10028: A second-generation selective FAK inhibitor aimed at maintaining a leading position in the field, with an IND application expected to be submitted by 2025 and first human clinical trials anticipated to start in Q1 2026 [4]. - Three innovative antibody-drug conjugates (ADCs): - OMTX705: Targets CAFs in the tumor microenvironment and shows synergy with various therapies, including anti-PD-1 [3]. - IN30758: Focuses on upstream signaling pathways of FAK, showing synergy with FAK inhibitors [3]. - IN30778: Targets unique tumor-associated antigens that are highly expressed in various solid tumors [3]. Financial Overview - Financial performance for the three months ending March 31 for the years 2023 to 2025 shows: - Net other income/loss: -392 thousand RMB in 2023, 2,472 thousand RMB in 2024, and 397 thousand RMB in 2025 [5]. - Administrative expenses: -38,104 thousand RMB in 2023, -45,071 thousand RMB in 2024, and -9,866 thousand RMB in 2025 [5]. - R&D expenses: -135,517 thousand RMB in 2023, -99,999 thousand RMB in 2024, and -17,207 thousand RMB in 2025 [5]. - Operating loss: -174,013 thousand RMB in 2023, -142,598 thousand RMB in 2024, and -26,676 thousand RMB in 2025 [5]. - Net loss for the year: -209,249 thousand RMB in 2023, -184,619 thousand RMB in 2024, and -29,712 thousand RMB in 2025 [5].