天辰生物冲刺港交所：专注「过敏+自免」赛道，核心产品有望超越奥马珠单抗

Core Viewpoint - Tianchen Biopharmaceuticals is set to go public on the Hong Kong Stock Exchange, focusing on innovative drug development for allergic and autoimmune diseases, with a strong product pipeline and experienced founding team [1][2][9]. Product Development - The core product LP-003 is a next-generation anti-IgE antibody, showing the fastest clinical development progress among global candidates, with superior efficacy compared to Omalizumab [5][6]. - LP-003 has demonstrated 860 times higher binding affinity to IgE and 30 times greater blocking activity than Omalizumab, indicating its potential for lower dosing requirements [5]. - The product pipeline includes LP-005, a dual-function antibody targeting C5 and C3b for treating paroxysmal nocturnal hemoglobinuria (PNH) and other complement-mediated diseases [6][7]. Market Potential - The global market for allergic disease drugs is projected to reach $68.8 billion in 2024, with a significant increase to $111.4 billion by 2030, driven by a large patient base and demand for improved quality of life [5]. - The market share of biologics in allergic disease treatments is expected to rise from 40.4% in 2024 to 61.3% by 2030 globally [5]. Research and Development Platforms - Tianchen Biopharmaceuticals leverages proprietary platforms for dual-function antibody development and high-affinity antibody discovery, enhancing the feasibility and speed of drug development [7]. - The company has received IND approvals for multiple indications for both LP-003 and LP-005 in China, indicating a robust clinical development strategy [6][7]. Financial Overview - The company has secured investments from various institutions, achieving a valuation exceeding 2 billion RMB prior to its IPO [8][9]. - Proceeds from the IPO will primarily fund the development of LP-003 and LP-005, as well as other pipeline products and operational expenses [9].