劲方医药今起招股：获TruMed、OrbiMed、UBS等累计1亿美元基石认购

Core Viewpoint - Genfleet Therapeutics is set to conduct an IPO from September 11 to 16, aiming to raise approximately HKD 15.82 billion, with a net amount of HKD 14.43 billion from the issuance of 77.6 million H-shares priced at HKD 20.39 each [2]. Group 1 - The company has secured cornerstone investments from several prominent institutions, totaling USD 100 million (approximately HKD 780 million), which accounts for about 49% of the total shares offered [2]. - Genfleet Therapeutics focuses on developing novel therapies for tumors, autoimmune, and inflammatory diseases, with a pipeline that includes eight candidate drugs, five of which are in clinical stages [2]. Group 2 - The core product GFH925 (Fluorouracil Tablets, marketed as "Dabert") is the first KRAS G12C inhibitor approved in China and the third globally, having received approval from the National Medical Products Administration in August 2024 for treating non-small cell lung cancer (NSCLC) [3]. - GFH925 demonstrated a 49.1% objective response rate and a 90.5% disease control rate in key clinical trials, showcasing significant clinical advantages [3]. - The product is being commercialized in collaboration with Innovent Biologics (1801.HK), and efforts are underway to advance market access [3]. Group 3 - The company is also advancing the overseas clinical development of GFH925, with a completed Phase Ib trial in the EMA regulatory region, testing its combination with cetuximab as a first-line treatment for advanced NSCLC [4]. - The Phase II portion of this trial is expected to be completed by Q4 2025, with the potential for synergistic effects in inhibiting the EGFR-RAS pathway [4]. - Another core product, GFH375, an oral KRAS G12D inhibitor, is currently undergoing Phase II clinical trials in China, and Genfleet has entered into a licensing agreement with Verastem (VSTM.US) for three candidate products, including GFH375, for development and commercialization outside Greater China [4]. Group 4 - The funds raised from the IPO will primarily be used to advance the global clinical development of core products, expand the product pipeline, enhance CMC capabilities, and supplement working capital [4].