Core Viewpoint - Zhuhai Tenomab Pharmaceutical Co., Ltd. has submitted its IPO application to the Shanghai Stock Exchange's Sci-Tech Innovation Board, aiming to raise 1.5 billion yuan for its innovative biopharmaceutical products focused on blood product alternatives [1] Group 1: Company Overview - Founded in 2015, Tenomab is a global market-oriented innovative biopharmaceutical company dedicated to the development, manufacturing, and commercialization of fully human monoclonal antibodies and specific blood product alternatives [1] - The company's core product, TNM002 (Stadotat Monoclonal Antibody Injection), is the world's first recombinant anti-tetanus toxin fully human monoclonal antibody, expected to be approved in China by February 2025 [1][2] - TNM002 has been recognized as a breakthrough therapy by China's CDE and included in the priority review process, also receiving Fast Track designation from the US FDA, highlighting its innovative significance in the field of tetanus prevention [1] Group 2: Product Pipeline - Another core product, TNM001, is a potential first-in-class long-acting monoclonal antibody for the prevention of respiratory syncytial virus (RSV) in healthy and high-risk infants, currently undergoing Phase III clinical trials [2] - The company has developed multiple antibody molecules targeting infectious diseases and pain-related conditions, with TNM002 and TNM005 being first-in-class or having first-in-class potential, while TNM001 and TNM006 are positioned as potential first domestic products [2] Group 3: Financial Overview - The IPO proceeds will be allocated to various projects, including 830 million yuan for new drug research and development, 330 million yuan for expanding antibody production facilities, and 340 million yuan for working capital [3] - Financial performance shows revenues of 4.34 million yuan in 2022, with projected revenues of 1.51 million yuan in 2023 and 16.93 million yuan in 2024, while net losses are expected to increase from approximately 429 million yuan in 2022 to 515 million yuan in 2024 [3][4] - As of March 31, 2025, total assets are projected to be approximately 1.13 billion yuan, with a debt-to-asset ratio of 56.48% [4]