先通医药冲刺港交所：中国首家获得创新放射性药物上市批准的企业

Core Viewpoint - The Chinese radiopharmaceutical market is at a growth inflection point, with significant potential for expansion driven by technological advancements and increasing market demand [7]. Company Overview - Xiantong Pharmaceutical, established in 2005, is focused on developing and commercializing innovative radiopharmaceuticals, aiming to be the first listed company in China with first-in-class or best-in-class potential [1][6]. - The company has submitted its IPO application to the Hong Kong Stock Exchange, with plans to raise funds primarily for R&D and commercialization of core products [8]. Product Pipeline - Xiantong Pharmaceutical's pipeline includes 15 assets focusing on oncology, neurodegenerative diseases, and cardiovascular diseases, with four core products: XTR008, XTR006, XTR004, and XTR003 [1][5]. - XTR008 is a targeted radioligand for treating neuroendocrine tumors, currently in the registration phase [2]. - XTR006 is a PET diagnostic radioligand for suspected Alzheimer's disease, positioned as a potential best-in-class product [5]. - XTR004 is a PET myocardial perfusion imaging agent, and XTR003 is a first-in-class PET radioligand for myocardial fatty acid metabolism imaging [3][5]. Market Potential - The global radiopharmaceutical market is projected to grow from $9.7 billion in 2024 to $57.3 billion by 2035, at a compound annual growth rate (CAGR) of 17.5% [7]. - The Chinese radiopharmaceutical market is expected to increase from 7.4 billion RMB in 2024 to 75.8 billion RMB by 2035, with a CAGR of 23.5% [7]. Investment and Funding - Xiantong Pharmaceutical has attracted investments from several prominent institutions, indicating strong market confidence [8]. - The funds raised from the IPO will be allocated to core product development, candidate product R&D, enhancing sales and marketing capabilities, and establishing a new production base in the Beijing-Tianjin-Hebei region [8].