Core Viewpoint - Jingze Biopharmaceuticals is preparing for an IPO on the Hong Kong Stock Exchange, focusing on reproductive and ophthalmic drugs, and is one of the leading companies in China with the most clinical-stage macromolecule drugs in these fields [1][3]. Summary by Sections - Jingze Biopharmaceuticals submitted its prospectus for an IPO on June 27, 2025, with CICC and Guoyuan International as joint sponsors. The company, established in 2014, specializes in reproductive and ophthalmic drugs [1]. - As of June 20, 2025, Jingze's core product in reproductive treatment, JZB30 (rhFSH lyophilized powder injection), has been approved for commercialization, while JZB33 (rhFSH aqueous injection) has submitted an NDA. In the ophthalmic field, JZB05 (anti-VEGF intravitreal injection) is undergoing Phase III clinical trials at over 40 centers in mainland China [2][3]. - JZB30 is Jingze's first commercialized product in reproductive treatment, serving as a follicle-stimulating hormone for ovulation induction. JZB05 is expected to be the first commercial product in the ophthalmic field, targeting diseases like wAMD and DME. JZB30 is a biosimilar to the leading imported product, while JZB05 is a biosimilar to the top-selling anti-VEGF drug, with the latter projected to achieve $9.5 billion in annual sales by 2024 [4]. - Since its inception, Jingze Biopharmaceuticals has completed financing totaling 927 million yuan, with a valuation of 3.09 billion yuan following its last round of financing before the IPO. The net proceeds from the IPO will primarily be used to advance core product development, clinical trials for key products, and general corporate purposes [4].