Good News on Listing | Frost & Sullivan Assists Viesun Pharma in Successful Hong Kong Listing (2561.HK)

VISEN Pharmaceuticals (hereinafter referred to as 'VISEN Pharmaceuticals') was successfully listed on March 21, 2025. The company plans to issue a total of 1,138.5 million shares globally, including 4.554 million shares in Hong Kong and 6.831 million shares internationally. The issue price per share is HK$68.80, raising approximately HK$780 million in net proceeds.

During the process of listing in Hong Kong this time, Frost & Sullivan mainly undertook the following tasks: helping the issuer accurately and objectively understand its positioning in the target market, using objective market data to discover, support, and highlight the issuer's competitive advantages, assisting the issuer, investment banks, and other intermediaries in completing the relevant parts of the prospectus (such as the overview, competitive advantages and strategy, industry overview, business, and other important chapters), helping the issuer complete communication with the Hong Kong Stock Exchange and investors, assisting investors in quickly understanding the market ecosystem and competitive landscape, and assisting the issuer in completing feedback on various industry-related issues from the Hong Kong Stock Exchange.

• The company is an innovative biopharmaceutical company focusing on endocrine-related therapeutic areas, with a core product and two other investigational candidate drugs;

   

• The company's core product, Lonapegsomatropin, is a once-weekly growth hormone replacement therapy that has been approved by both the FDA and EMA for the treatment of growth hormone deficiency (PGHD) in children. It is also the only long-acting growth hormone (LAGH) that has demonstrated superior efficacy and equivalent safety compared to the existing short-acting (daily injection) human growth hormone therapies for PGHD;

   

• The company's product, Navepegritide, is China's first drug in clinical development for the repair of diseases related to chondrodysplasia. It has shown positive therapeutic results in clinical trials. There are currently no drugs for the repair of diseases related to chondrodysplasia available in China;

   

• The company's product Palopegteriparatide is the only parathyroid hormone replacement therapy that has begun clinical development in China. There are currently no parathyroid hormone replacement therapies approved for the treatment of hypoparathyroidism in China;

   

• In 2023, China accounted for the largest share of the global human growth hormone market, reaching RMB116 billion. Driven by continuously increasing patient penetration rates, extended average treatment times, and growing acceptance of LAGH therapy, the Chinese growth hormone market is expected to continue to grow rapidly, reaching RMB286 billion by 2030.

The company's core product, lonapegsomatropin, has completed phase 3 pivotal trials in China for the treatment of children aged 3 to 17 with growth hormone deficiency.

China's market size breakdown of human growth hormone by dosage form, from 2018 to 2030 (estimated)

According to Frost & Sullivan's data, the market size of human growth hormone (hGH) in China has rapidly increased from RMB 4 billion in 2018 to RMB 116 billion in 2023, with an annual compound growth rate of 23.9%. It is expected to continue to grow to RMB 286 billion by 2030, with an annual compound growth rate of 13.7% from 2023 to 2030. To overcome the limitations associated with short-acting growth hormone therapy, LAGH has been introduced as a new dosage form aimed at reducing the frequency of injections, thereby improving compliance and treatment outcomes. Due to the potential significant advantages of LAGH over short-acting growth hormone therapy in terms of patient acceptance, tolerance, and treatment flexibility, it is expected that LAGH will gradually replace short-acting growth hormone therapy as the preferred treatment for children with growth hormone deficiency (PGHD). According to Frost & Sullivan's data, the market size of LAGH is expected to continue to grow significantly and exceed that of short-acting growth hormone therapy.

According to a Frost & Sullivan report, the company introduced lonapegsomatropin from Ascendis Pharma in November 2018. With its flexible, versatile, and reliable TransCon temporary connection technology, lonapegsomatropin is the first weeklyLAGH alternative therapy approved for the treatment of PGHD in both the United States and the European Union. It was granted marketing approvals from the FDA and EMA on August 25, 2021, and January 12, 2022, respectively.

LAGH therapies for PGHD that are available globally (as of the latest practicable date

Frost & Sullivan, integrating 64 years of global consulting experience, has dedicated 27 years to serving the booming Chinese market with a global perspective, helping clients accelerate their corporate growth and achieve industry benchmarks in terms of growth, innovation, and leadership. The Greater Health Industry is one of the core areas of focus for Frost & Sullivan. Over the past 20-plus years, the Frost & Sullivan team has provided financing and financial advisory, IPO industry advisory, strategic consulting, management consulting, and other services to hundreds of outstanding domestic and international biopharmaceutical, medical device, healthcare services, and internet healthcare companies. Successful listings include: Yasheng Medicine Group (NASDAQ:AAPG), Zhengye Biotech (NASDAQ:ZYBT), Brain Motion Aurora (6681.HK), Health Road (2587.HK), Huahao Zhongtian (2563.HK), Yinos (688710.SH), CrystalTech (2228.HK), Yimai Sunshine (2522.HK), Shenghe Biotech (2898.HK), Quanxin Biotech (2509.HK), Meizhong Jiahe (2453.HK), WuXi AppTec (2268.HK), Anl Medical (NASDAQ:ANL), Neusoft Xikang (9686.HK), Youzhiyou (2496.HK), Yiming Angke (1541.HK), Corning Biotech (6990.HK), LaiKai Medical (2105.HK), Kedi Group (2487.HK), Lvyu Biotech (2480.HK), Meis Health (2415.HK), PHECR, Zhongjin Medical (NASDAQ:ZJYL), Yisheng Biotech (NASDAQ:YS), Meili Tianyuan (2373.HK), Kangfeng Biotech (6922.HK), Bao'an Biotech (6955.HK), Sida Di (1244.HK), Meihao Medical (1947.HK), Gaoshi Medical (2407.HK), Lepu Xin Tai (2291.HK), Jianshi Technology (9877.HK), JCARE.SW, Lepu Medical (LEPU.SW), Dingdang Health (9886.HK), BAIOSAT (2315.HK), Zhiyun Health (9955.HK), MeinGene (6667.HK), Prenetics (PRE.NASDAQ), Yunkang Group (2325.HK), Rike Biotech (2179.HK), Lepu Biotech (2157.HK), Clear Medical (1406.HK), Baxin An (2185.HK), Yonghe Medical (2279.HK), Kailai Ying (6821.HK), Beihai Kangcheng (1228.HK), Gusheng Tang (2273.HK), Yingpeng Technology (2251.HK), Clover Biotech (2197.HK), Minimally Invasive Robotics (2252.HK), Harmony Cayman (2256.HK), Kunbo Medical (2216.HK), Xianruida (6669.HK), Kangsheng Global (9960.HK), Yimai Tong (2192.HK), Tengsheng Bopai (2137.HK), Canopy (2162.HK), Chaoyu Eye Hospital (2219.HK), Guichuang Tongqiao (2190.HK), Huihuang Medicine (0013.HK), Koji Pharmaceutical (2171.HK), Zhaoke Eye Hospital (6622.HK), Nature Pharmaceuticals (UPC.NASDAQ), Sain Life Sciences (6600.HK), Zhaoyan New Drugs (6127.HK), Novogene Health (6606.HK), ADAG.NASDAQ, Beikang Medical (2170.HK), Jianbimiao Miao Miao (2161.HK), Minimally Invasive Xin Tong (2160.HK), Rui Li Medical Beauty (2135.HK), Jiake Pharmaceutical (1167.HK), HepB Pharm (2142.HK), JD Health (6618.HK), Deqi Medicine (6996.HK), Rongchang Biotech (9995.HK), WuXi AppTec (2126.HK), Xiansheng Pharmaceutical (2096.HK), Yunding Newray (1952.HK), Jiahe Biotech (6998.HK), Zai Ding Medicine (9688.HK), Ocular Biotech (1477.HK), Yongtai Biotech (6978.HK), Hapu Pharmaceutical (9989.HK), Keping Pharmaceutical (9939.HK), Peijia Medical (9996.HK), Kangfang Biotech (9926.HK), Nuo Cheng Jianhua (9969.HK), Tianjing Biotech (IMAB.NASDAQ), Kanglong Chemical (3759.HK), China Antibody (3681.HK), Dongyao Pharmaceutical (1875.HK), Yasheng Medicine (6855.HK), Fuhong Hanlin (2696.HK), Hansoh Pharmaceutical (3692.HK), Mabotech (2181.HK), Fangda Holdings (1521.HK), Via Biotech (1873.HK), CStone Pharmaceuticals (2616.HK), Junshi Biotech (1877.HK), WuXi AppTec (2359.HK), Xinda Biotech (1801.HK), Hualing Medicine (2552.HK), BeiGene (6160.HK), Gilead Sciences (1672.HK), WuXi Biotech (2269.HK), China Resources Medicine (3320.HK), Yakugen Scientific & Pharmaceutical (2633.HK), Huihuang China Medicine (HCM.NASDAQ), Biotech (1548.HK), BBI Life Sciences (1035.HK), Tongyuan Kang Medicine (2410.HK), etc. In terms of the number of filings, the Frost & Sullivan healthcare team maintains an absolute leading position in Hong Kong healthcare IPOs, consistently ranking first in market share from 2018 to 2023.

Since the listing of the first batch of companies on the Sci-tech Innovation Board in July 2019, Frost & Sullivan reports have been widely cited in the prospectuses of leading Sci-tech Innovation Board listed companies in the industry, including: Zhongyan Co., Ltd. (688716.SH), Zhejiang Rongtai (603119.SH), Optoelectronics Technology Group Co., Ltd. (688450.SH), Jinghe Integration (688249.SH), Wuxi Rilian (688531.SH), Maolai Optics (688502.SH), Kangwe Century (688426.SH), Jinchuan Protein (688137.SH), Novogene Biologics (688428.SH), Aopuima Biotechnology (688293.SH), MicroPort Neurophysiology (688351.SH), Mengke Pharmaceutical (688373.SH), Yifang Biotechnology (688382.SH), Jicui Pharmaceutical (688046.SH), Haichuang Pharmaceutical (688302.SH), Rongchang Biotechnology (688331.SH), Rendu Biotechnology (688193.SH), Shouyao Holdings (688197.SH), Heyuan Biotechnology (688238.SH), Yaxin Security (688225.SH), Xidi Micro (688173.SH), Maywei Biotechnology (688062.SH), Yahong Medicine (688176.SH), BeiGene (688235.SH), Jiahe Meikang (688246.SH), Dizhe Medicine (688192.SH), Novozyme (688105.SH), Chengda Biotechnology (688739.SH), Geke Micro (688728.SH), Huaxi Biotechnology (688363.SH), Junshi Biosciences (688180.SH), Zhejiang Oncology & Gene Therapy Inc. (688266.SH), BeiGene (688177.SH), Shenzhou Cells (688520.SH), etc., are considered to be one of the most powerful, professional, and influential industry research institutions in the industry. We hope to work with enterprises to understand industry trends, seize development opportunities, jointly promote innovation and upgrading of China's health industry, and build a healthy future.