Healthcare Author: Mengyao Zhang Jul 16, 2020 06:37 PM (GMT+8)

The HKEX-listed vaccine maker is approved to go public on the Chinese Nasdaq, claiming up to CNY 1.2 billion R&D investment.

A drop of vaccine. Image credit: Kelly Sikkema/Unsplash

CanSino Biologics (6185:HKEX), a Chinese vaccine maker, will become the first ‘A+H’ dual-listed vaccine stock on the Star Market. Since going public on the Hong Kong Stock Exchange in March 2019, the ambitious biotech has been eyeing the mainland public market.

The company’s prospectus discloses that CanSino Biologics realized revenue of CNY 4.03 million in the first quarter of 2020, a 605.1% increase compared to 2019, and a net loss of CNY 23.1 million, 48.9% lower than in 2019.

The biotech aims to secure an IPO fundraising of CNY 1 billion this time. It plans CNY 550 million on constructing its production base, CNY 150 million on existing vaccine pipelines, CNY 50 million on supporting systems such as IT and logistics.

Meanwhile, it is actively promoting the development of COVID-19 vaccines, expecting to grow an annual production capability of over 200 million doses.