Dedicated to Developing and Commercializing Innovative Oncology Drugs and Therapies Propelling Future Growth
HONG KONG, Nov. 7, 2019 /PRNewswire/ — A clinical-stage biopharmaceutical company with full industry value chain capabilities, TOT BIOPHARM International Company Limited ("TOT BIOPHARM" or the "Company", together with its subsidiaries, the "Group", stock code: 1875) was well received by the capital market and should be the eleventh 18A Biotech company listed in Hong Kong since the inception of the new listing regulation last year.
The Company’s shares will commence trading on the Main Board of The Stock Exchange of Hong Kong Limited at 9:00 a.m. HKT tomorrow (8 November 2019, Friday) under the stock code of 1875, with board lot of 400 Shares each.
The final offer price of TOT BIOPHARM was determined at HK$6.55 per Offer Share. The net proceeds to be received by the Company is estimated to be approximately HK$511.4 million from the Global Offering (assuming that the Over-allotment Option is not exercised, after deduction of the underwriting fees and commission and estimated expenses payable by the Company in connection with the Global Offering). The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been significantly over-subscribed by approximately 11.95 times of the total number of 9,000,000 Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering. The International Offer Shares initially offered under the International Offering have been moderately over-subscribed.
Focusing on Innovative Oncology Drugs and Therapies, Developed Diversified Product Mix
TOT BIOPHARM is a clinical-stage biopharmaceutical company dedicated to developing and commercializing innovative oncology drugs and therapies. The Company has a comprehensive portfolio of oncology drug candidates, which include monoclonal antibodies (mAbs), antibody drug conjugates (ADCs), oncolytic virus products and specialty oncology drugs such as liposome drugs, targeting various types of cancers.
The Company focuses on achieving a diverse product mix. The Company’s comprehensive product pipeline consists of seven biological and five chemical drug candidates, 11 of which are in-house developed. Product pipeline covers a wide variety of cancer types and extended applications with sustainable launch schedule. Leveraging commercial-scale manufacturing and proven sales and marketing capabilities of TOT BIOPHARM, the Company is able to shorten time-to-market and time-to-peak sales of the products when approved.
At present, four biological drug candidates of TOT BIOPHARM are in the clinical stage. Moreover, the Company has submitted the ANDA for one chemical drug candidate, which was accepted by the NMPA in July 2019. In addition, two chemical drug candidates of the Company are undergoing CMC or BE study. The Company targets to launch the products from 2020.
Full Industry Value Chain Capabilities, Attractive to Quality Business Partner
Since inception in 2009, the Group has built and established a fully integrated in-house platform of discovery, process development, quality management, pre-clinical and clinical development, as well as commercial-scale manufacturing facilities and proven sales and marketing capabilities, which provides flexibility and scalability for its business to expand along the innovative drug industry value chain. Equipped with full industry value chain capabilities, TOT BIOPHARM adopts an open platform business model under which the Company collaborates with third party business partners at different stages of the industry value chain. Benefiting from the strong platform capabilities, the Company has great support from several reputable investors such as Vivo Capital and Advantech Capital.
Ms. Yeh-Huang Chun-Ying, Executive Director and General Manager of TOT BIOPHARM said, "Since the inception of TOT BIOPHARM, we strive to develop innovative drugs that have high viability for commercialization and clear market demands to reach a wider group and benefit the majority of patients. Currently, our product pipeline consists 12 of biological and chemical drug candidates, of which our core product TAB008 is expect to launch between late 2020 and early 2021. In the future, we target to commercialize these pipeline products in China once approved and plan to establish our presence in the overseas markets in the long term."
One of the First Mover in Bevacizumab Market
The bevacizumab market in China has significant growth potential. The bevacizumab market in China is expected to reach RMB3.2 billion in 2018 and is estimated to grow to RMB13.1 billion in 2023, representing a CAGR of 32.7%, according to Frost & Sullivan.
TAB008, the most advanced biological drug candidate and Core Product of the Company, is currently undergoing Phase III clinical trials in China, and is expected to be launched between the end of 2020 and early 2021, subject to regulatory approval. It is an anti-VEGF mAb and biosimilar drug candidate to bevacizumab, which will be sold under the trade name of Avastin. The Company adopts and develops cost-effective technologies the Company use 2,000L bioreactors to manufacture TAB008, demonstrating the readiness for cost-efficient commercial production. Leveraging commercial-scale manufacturing and proven sales and marketing capabilities of, the Company is able to shorten time-to-market and time-to-peak sales of our TAB008 when approved.
Well-Established and Advanced Technology Platforms and Manufacturing Facilities
The Company owns and operates cost-efficient commercial-scale and state-of-the-art manufacturing facilities, built to and operating at international standards, at Suzhou Production Center, of which the No. 2 campus has a designed capacity of 16,000L to accommodate high-quality commercial manufacturing. At the same time, TOT BIOPHARM has established three advanced technology platforms, including the Therapeutic Monoclonal Antibody and ADC Technology Platform, the Gene Engineering Based Therapeutics Technology Platform and the Innovative Drug Delivery Technology System, to develop different types of oncology drugs. TOT BIOPHARM owns self-developed know-how for manufacturing processes and developed a robust product pipeline, which will continue to further the clinical and pre-clinical development of drug candidates and manage pipeline development to achieve fast-to-market commercialization. Supported by three advanced technology platforms, the Company has gained five invention patents and one utility model patent in China.
Industry-leading Talent Base
TOT BIOPHARM has assembled a senior management team with extensive experience and profound knowledge in cancer treatment. The senior management team of the Company represents a full spectrum of complementary skillsets, including pre-clinical research, clinical development, manufacturing, quality control and assurance and commercialization, and broad experience in different cancer treatments including mAbs, ADCs, oncolytic virus and specialty oncology drugs, which lead the Company to achieve future success. The Company’s research and development staff are also able to progress the development efficiently, keep track of achievements in their respective fields and create innovative solutions.
Ms. Yeh-Huang Chun-Ying concluded, "Looking ahead, TOT BIOPHARM’s mission is to build a leading brand name of oncology treatments trusted by patients and their families as well as medical professionals in China. We believe, by commercializing TAB008, rapidly advancing our clinical trials for drug candidates, enriching product portfolio by focusing on immune-oncology combination therapies, strengthening our in-house sales and marketing force and commercial-scale manufacturing capacities and maximizing the value of our integrated platform, the Group has even brighter prospects."
About TOT BIOPHARM International Company Limited
TOT BIOPHARM International Company Limited ("TOT BIOPHARM") is a clinical-stage biopharmaceutical company dedicated to developing and commercializing innovative oncology drugs and therapies. The mission of TOT BIOPHARM is to build a leading brand name of oncology treatments trusted by patients and their families as well as medical professionals in China.
TOT BIOPHARM has developed a comprehensive portfolio of oncology drug candidates on its three integrated technology platforms:
- Therapeutic Monoclonal Antibody and ADC Technology Platform facilitates the development of a series of antibody drugs and ADCs by integrating research and development capability and manufacturing competence with the state-of-the-art antibody production site with a designed capacity of 16,000L
- Gene Engineering Based Therapeutics Technology Platform integrates anti-tumor immunotherapy, gene therapy and viral therapy and functions as a research and development and manufacturing platform for the tumor-targeted recombinant oncolytic virus vector system.
- Innovative Drug Delivery Technology Platform consists of an advanced targeted liposome drug delivery system possessing the key encapsulation technologies and commercial-scale manufacturing capability of both hydrophobic and hydrophilic compounds.
Taking advantage of these technology platforms, TOT BIOPHARM has developed a robust pipeline consisting of 12 candidates. Equipped with its full industry value chain capabilities, including research and development, clinical trials, manufacturing and commercialization, TOT BIOPHARM adopts an open platform business model and collaborates with third party business partners at different stages of the industry value chain to shorten the time-to-market and time-to-peak sales. For more information, please visit the Company’s website at http://www.totbiopharm.com.cn.
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