未盈利药企信诺维“闯关”科创板，仍有知识产权案缠身

Core Viewpoint - Suzhou Xinnowei Pharmaceutical Technology Co., Ltd. has submitted its IPO application to the Sci-Tech Innovation Board, showcasing a rich pipeline of innovative drugs targeting major diseases, despite being an unprofitable company with significant accumulated losses [1][2][3]. Group 1: Company Overview - Xinnowei's innovative drug pipeline includes a drug application under review, three drugs in Phase III clinical trials, and multiple early-stage candidates, forming a "1+3+N" structure [1]. - The company is focusing on developing drugs for oncology and anti-infection, with key products like XNW5004, an EZH2 inhibitor, targeting various cancers [2][3]. Group 2: Financial Performance - Xinnowei has reported significant losses, with net profits of -463 million yuan, -427 million yuan, -386 million yuan, and -374 million yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively [3]. - The total accumulated losses amount to 2.026 billion yuan as of the reporting period [3]. Group 3: Market Competition - The company faces competition from both global pharmaceutical giants and domestic companies, with several similar products either already approved or in development [3]. - In the EZH2 inhibitor space, there are currently three approved drugs and nine in clinical development globally, indicating a competitive landscape [3]. Group 4: IPO Details - Xinnowei is applying for listing under the fifth set of standards on the Sci-Tech Innovation Board, aiming for a market valuation of over 4 billion yuan and plans to raise 2.94 billion yuan, with 2.34 billion yuan allocated for drug development [3]. Group 5: Legal Issues - The company is currently involved in ongoing intellectual property litigation, which may not directly impact its drug pipeline but could affect its reputation and financial standing [5][6]. - The lawsuit involves claims of trade secret infringement, with potential damages sought amounting to 50 million yuan [5].