Company Overview - Hunan Maijisheng Biotechnology Co., Ltd. submitted its prospectus for a proposed listing on the Hong Kong Stock Exchange, with China International Capital Corporation as the sole sponsor [1] - Established in 2016, the company focuses on discovering, developing, and commercializing innovative biopharmaceuticals to address unmet medical needs in allergic and autoimmune diseases [1] - The company has developed a strong pipeline consisting of eight innovative candidate products, including core product MG-K10, key products MG-014 and MG-013, along with five other candidates [1] Product Details - MG-K10 is a long-acting anti-IL-4Rα antibody, currently in the registration clinical stage, targeting atopic dermatitis and asthma among eight indications [1] - According to Frost & Sullivan, MG-K10 is the only long-acting anti-IL-4Rα candidate antibody validated through Phase III clinical research among its peers in the market and clinical development [1] Market Potential - The global market for allergic disease drugs was valued at $61.8 billion in 2023 and is expected to grow to $122.2 billion by 2032, with a compound annual growth rate (CAGR) of 7.9% from 2023 to 2032 [2] - In China, the allergic disease drug market is projected to grow from $7.2 billion in 2023 to $31 billion by 2032, with a CAGR of 17.5% [2] - The global market for autoimmune disease drugs was valued at $133.8 billion in 2023, expected to reach $192.3 billion by 2032, with a CAGR of 4.1% [2] - The Chinese autoimmune disease drug market is anticipated to grow significantly from $3.8 billion in 2023 to $26.6 billion by 2032, with a CAGR of 24.0% [2] Intellectual Property - As of the last feasible date, the company holds 20 authorized patents, including 8 in mainland China and 12 in other jurisdictions, along with 23 patent applications [2] Research and Development - The company has established a professional internal R&D team of 26 members, covering the entire spectrum of biopharmaceutical discovery, preclinical research, CMC, clinical development, and regulatory affairs [3] - R&D expenditures for the years 2023, 2024, and the three months ending March 31, 2025, were RMB 170 million, RMB 150 million, and RMB 24.3 million, respectively [3] Financial Performance - The company reported revenues of RMB 8.72 million and RMB 2.4 million for the years 2023 and 2024, respectively [3] - Total losses for the same periods were approximately RMB 250 million and RMB 180 million [3]

Company Overview - Hunan Maijizhi Biotechnology Co., Ltd. (Maijizhi) has submitted a listing application to the Hong Kong Stock Exchange, with CICC as the sole sponsor [1] - The company is a clinical-stage biopharmaceutical firm focused on discovering, developing, and commercializing innovative biologics to address unmet medical needs in allergic and autoimmune diseases [3] Product Pipeline - Since its establishment in 2016, Maijizhi has developed a robust pipeline of eight innovative candidate products, including core product MG-K10, key products MG-014 and MG-013, all of which are next-generation long-acting antibodies discovered and developed through the company's proprietary technology platform [3] - MG-K10 is a potential best-in-class, self-developed long-acting anti-IL-4Rα antibody currently undergoing clinical trials for eight indications, including atopic dermatitis and asthma, showing promising safety and efficacy data [3] Market Potential - The global market for allergic disease drugs is projected to grow from $61.8 billion in 2023 to $122.2 billion by 2032, with a compound annual growth rate (CAGR) of 7.9% [4] - The Chinese market for allergic disease drugs is expected to grow from $7.2 billion in 2023 to $31 billion by 2032, with a CAGR of 17.5% [4] - The global market for autoimmune disease drugs is anticipated to increase from $133.8 billion in 2023 to $192.3 billion by 2032, with a CAGR of 4.1% [4] - The Chinese autoimmune disease market is expected to grow significantly, from $3.8 billion in 2023 to $26.6 billion by 2032, with a CAGR of 24% [4] Financial Performance - For the fiscal year 2023, Maijizhi reported revenues of RMB 8.722 million, with total losses of approximately RMB 252.942 million [6][7] - In 2024, the company expects revenues to increase to RMB 24,000, while losses are projected to be around RMB 178.308 million [6][7] - The company has no approved or commercialized products yet but is advancing multiple candidates towards the BLA application stage [5]