Zheng Quan Shi Bao Wang·2025-12-22 00:55Core Viewpoint - Rebio Biotech is undergoing a listing hearing on the Hong Kong Stock Exchange, with CICC and Citibank serving as joint sponsors. The company is a key player in the global small nucleic acid drug development field, particularly in siRNA therapies, and possesses one of the largest siRNA drug pipelines globally [1] Group 1: Market Potential - The small nucleic acid drug market is considered the "third wave" following small molecules and antibody drugs, with significant market potential. It is projected that the global market valuation will reach $18.6 billion by 2029, with a compound annual growth rate (CAGR) of 29.5% from 2024 to 2029 [1] Group 2: Technological Advancements - Rebio Biotech has overcome the core technical barrier of small nucleic acid drug delivery, possessing proprietary and clinically validated GalNAc delivery technology. The liver-targeting RiboGalSTAR delivery technology is foundational to many of its pipeline assets. The company has also made significant progress in extrahepatic delivery technologies, such as RiboPepSTAR and RiboOncoSTAR [1] Group 3: Product Pipeline - The company is deeply focused on the small nucleic acid sector, with seven self-developed drugs in clinical trials targeting eight indications related to cardiovascular, metabolic, renal, and liver diseases. Four of these drugs are in Phase 2 clinical trials. The core product RBD4059 is the world's first and fastest siRNA drug for treating thrombotic diseases. RBD5044 and RBD7022 are the second siRNA drugs globally to enter clinical development targeting APOC3 and PCSK9, respectively. Additionally, the company has over 20 preclinical projects [1]