旺山旺水(2630.HK)今起招股，入场费6869港元

Core Viewpoint - The biopharmaceutical company Wangshan Wangshui (2630.HK) is launching an IPO from today until next Monday (November 3), aiming to raise up to HKD 598 million through the global offering of 17.5978 million H-shares, with a maximum offer price of HKD 34 per share [1] Group 1: IPO Details - The public offering in Hong Kong accounts for 10% of the total shares, while the remaining shares are allocated for international placement [1] - The entry fee for one lot of 200 shares is HKD 6,868.57, with trading expected to commence on November 6 [1] Group 2: Fund Allocation - The company plans to allocate 38% of the net proceeds for the research and development of core products, 27% for other candidate products, 10% for the construction of a factory in Qingdao, 15% to enhance sales and marketing capabilities, and 10% for working capital and other general corporate purposes [1] Group 3: Core Products - Wangshan Wangshui focuses on discovering, acquiring, developing, and commercializing small molecule drugs in strategic therapeutic areas, specifically neuropsychiatry and reproductive health [1] - The company has developed two core products: LV232 and TPN171 [1] Group 4: TPN171 - TPN171 is a PDE5 inhibitor approved for the treatment of erectile dysfunction (ED) in China and Uzbekistan, featuring a novel chemical structure with high activity, selectivity, and safety [1] - Compared to competing products like sildenafil and tadalafil, TPN171 shows significantly lower activity against other PDEs, providing better safety and efficacy [1] Group 5: LV232 - LV232 is a dual-target receptor modulator for treating major depressive disorder, specifically targeting 5-HTT and 5-HT3 receptors, enhancing antidepressant effects while reducing gastrointestinal side effects [2] - The company plans to initiate a Phase II clinical trial for LV232 in China for major depressive disorder in April 2025, with completion expected in the second half of 2026 [2]