维立志博正式登陆港交所：开盘上涨120%，今年两家Biotech均呈现超亮眼表现

Core Viewpoint - The successful IPO of Nanjing Weilizhibo Biotech Co., Ltd. has injected confidence into the biotech sector for future listings in Hong Kong, showcasing strong market performance and investor interest [2][4]. Company Overview - Weilizhibo, established in 2012, focuses on discovering, developing, and commercializing new therapies for cancer and autoimmune diseases, with a strategic emphasis on tumor immunology, T-cell engagers, and antibody-drug conjugates [5]. - The company has a diverse product portfolio with 14 innovative candidates, including 4 core products that are leading in global clinical progress [5]. IPO Details - Weilizhibo's IPO on July 25, 2025, involved the issuance of 36,862,500 H-shares at an offering price of HKD 35.00 per share, raising a total of HKD 1.29 billion [2]. - The company attracted 9 cornerstone investors, collectively subscribing USD 69 million (approximately HKD 541.6 million) [2]. Market Performance - As of 9:50 AM on the listing day, Weilizhibo's share price reached HKD 77.65, reflecting a 121.86% increase from the offering price, with a market capitalization of HKD 14.986 billion [3]. Product Pipeline - The core product LBL-024 is a pioneering dual-specific antibody targeting PD-L1/4-1BB, which has entered the registration clinical stage and is recognized as a breakthrough therapy for neuroendocrine carcinoma by NMPA and granted orphan drug status by the FDA [6]. - LBL-024 is being studied for various cancers, including small cell lung cancer and ovarian cancer, showing promising initial efficacy signals [7]. T-cell Engager Products - Weilizhibo has developed a matrix of 6 differentiated T-cell engager products targeting hematological malignancies, solid tumors, and autoimmune diseases, with several candidates already in clinical research [8]. Use of IPO Proceeds - Approximately 65% of the net proceeds from the IPO will be allocated to clinical development and regulatory affairs for ongoing and planned candidates, while 15% will enhance preclinical assets and expand existing pipelines [9].