With the world’s largest genetically modified mouse model repository, the company supplies its commercial mouse models for, among other purposes, research on diabetes, atherosclerosis, and Alzheimer's
Biotech company Gem Pharmatech (Chinese: 药康生物) was officially listed today on the Science and Technology Innovation Board, or the STAR market, of the Shanghai Stock Exchange under the ticker code 688046. Its shares opened at CNY 20 (USD 3), a decrease of 11.23% from the issue price of CNY 22.53 apiece, and closed 17.89% lower at CNY 18.5.
Founded in 2017, Gem Pharmatech specializes in the R&D, production, sale of experimental animal mouse models for in vivo biomedical researchers in academia and industry.
The capital raised is expected to be USD 172 Million (CNY 1.13 billion), the proceeds will be used to construct an integrated base for model animal mouse R&D and a real-world animal model R&D transformation platform.
Headquartered in eastern China’s Nanjing City, Gem Pharmatech has generated the world’s largest genetically modified mouse model repository, which includes humanized, germ-free, immunodeficient, conditional knock out (cKO), and knockout (KO) mouse models.
In addition to its extensive repository, Gem Pharmatech also provides its customers with a variety of services including phenotyping, preclinical and pharmacological testing, pathological and molecular analysis, and customized breeding.
The prospectus shows that Gem Pharmatech’s revenue in 2018, 2019, and 2020 was CNY 53.29 million, CNY 193 million, and CNY 262 million, respectively. From 2018 to 2020, the gross profit margins of its commercial mouse models were 76.73%, 79.37%, and 85.01%, respectively.
The company has sold about 1.46 million mouse models in the past year, mainly involving immune-deficient mice, humanized mice, and mouse diseases such as diabetes, atherosclerosis, and Alzheimer's that can be used for tumor efficacy research.
Gem Pharmatech is one of the three giants in the drug research material market, the other two being, Shanghai Model Organisms Center (Chinese: 上海南模生物, 688265) and Biocytogen (Chinese: 百奥赛图). Shanghai Model Organisms Center landed on the STAR market in December 2021, while Biocytogen has also submitted the prospectus to the Hong Kong Stock Exchange.