新股消息 | 鼎泰药物递表港交所 为中国心血管代谢疾病非临床研究领域的第一大CRO

Core Viewpoint - Jiangsu Dingtai Pharmaceutical Research (Group) Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, with Citigroup and Haitong International acting as joint sponsors [1]. Company Overview - Established in 2008, Dingtai Pharmaceutical is a new type of Contract Research Organization (CRO) that provides integrated solutions based on disease biology for global pharmaceutical companies and research institutions. The company has transformed from a traditional CRO into a strategic R&D partner for clients [3]. - The company offers comprehensive non-clinical safety, efficacy, and drug metabolism and pharmacokinetics (DMPK) research, as well as integrated clinical trial services from proof of concept to pivotal trials, supporting clients throughout the entire lifecycle of drug development [3]. - Dingtai Pharmaceutical focuses on clinical value and has accumulated deep expertise and rich experience in cardiovascular metabolic diseases, central nervous system (CNS) diseases, ophthalmology, autoimmune diseases, and oncology [3]. Market Position - According to Frost & Sullivan, Dingtai Pharmaceutical is the largest CRO in China for non-clinical research in cardiovascular metabolic diseases based on projected revenue for 2024 [3]. - The company has built one of the most comprehensive non-human primate (NHP) disease model portfolios in China, ranking as the third-largest CRO in the field of efficacy research in China for 2024 [4]. Services and Capabilities - Dingtai Pharmaceutical's biomarker and translational medicine platform provides immunology, cellular, and molecular testing, supported by industry-leading sensitivity, robustness, and throughput characteristics in mass spectrometry bioanalysis [4]. - The company proactively monitors the progress of new therapies in key disease areas to anticipate industry trends and strategically expand its technical capabilities [4]. - Dingtai has extensive project experience in oligonucleotide therapies, monoclonal and bispecific antibodies, antibody-drug conjugates (ADC), and cell gene therapy (CGT) [4]. Client Base and Achievements - The company has established a loyal and diverse client base, including commercial-stage pharmaceutical companies, early-stage biotech firms, and well-known research institutions. Since its inception until October 24, 2025, Dingtai has provided non-clinical services to over 700 clients and clinical services to over 130 clients, assisting clients in obtaining over 200 approvals from the National Medical Products Administration (NMPA) and over 40 approvals from overseas regulatory agencies [5]. - Dingtai Pharmaceutical holds Good Laboratory Practice (GLP) certification and is recognized by the Association for Assessment and Accreditation of Laboratory Animal Care International (AAALAC), enabling it to support clients in regulatory submissions in major global markets [5]. Financial Performance - The company's revenue for the years 2022, 2023, 2024, and the six months ending June 30, 2025, were approximately RMB 725 million, RMB 767 million, RMB 713 million, and RMB 377 million, respectively. The corresponding profits (losses) for the same periods were approximately RMB 143 million, -RMB 52 million, -RMB 252 million, and RMB 64 million [5][6].