Chinese AIDS Drug Maker Aidea Listed on Star Market

Healthcare Author: Mengyao Zhang Jul 20, 2020 12:17 PM (GMT+8)

Abbott Laboratories’ distributor Jiangsu Aidea eyes an IPO to further develop its innovative drugs.

Chinese innovative drug maker for AIDS drugs and HIV diagnostic kits is going public. Image credit: UNICEF

Jiangsu Aidea (688488:SH) has landed on SSE Star Market, or the Chinese 'Nasdaq,' with the issuance of no more than 90 million shares for CNY 13.99, or PE ratio of x285. The prospectus disclosed that Aidea plans a public fundraising of CNY 746 million to invest in the R&D of innovative drugs, raw material medicines, R&D-related facilities, paying debts and supplementing working capital.

According to IMS Health & Quintiles, there were over 1.25 million AIDS patients in China at the end of 2018. The company mainly engages in producing human protein products, generic and innovative drugs and HIV diagnostics. It leverages Abbott’s HIV diagnostic kits and equipment to expand distribution channels, which will benefit future marketing for the innovative medicines in the pipeline.