Good News on Listing | Frost & Sullivan Assists Yuhua Medicine Co., Ltd. in Successfully Issuing GDRs and Listing on the Luxembourg Stock Exchange (PHECR)

Yao Hua Medicine Co., Ltd. (hereinafter referred to as 'Yao Hua Medicine') was officially listed on the Luxembourg Stock Exchange on April 18, 2023, completing the issuance of 462 million global depositary shares (GDS). The total issuance this time was 34 million shares, with an issue price of $13.61 per share, which translates to approximately NT$415 per share at the exchange rate of 1 US dollar = 30.495 NT dollars (converted).

During the listing process on the Luxembourg Stock Exchange, 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, sponsor, and other professional intermediary institutions in completing the relevant parts of the prospectus (such as overview, competitive advantages and strategy, industry overview, business, and other important sections), helping the issuer communicate with the Luxembourg Stock Exchange and investors, assisting investors in quickly understanding the market ecosystem and competitive landscape, and assisting the issuer in completing feedback on industry-related issues from the Luxembourg Stock Exchange.

Pharmaceutical China is a leading comprehensive biopharmaceutical company in Taiwan, developing multiple patented drugs with its pioneering drug research and development platform.

The company's main product, BESREMi^®Mainly used for the treatment of polycythemia vera (PV), it has been approved in 29 regions worldwide, including the United States (November 2021), the European Union (February 2019), and Japan (March 2023);

BESREMi^®Due to its excellent safety and effectiveness, it has changed the paradigm of PV treatment. Moreover, due to its wide applicability, BESSREMi^®In the future, it will be further expanded to other blood, oncology, and immunological diseases through single- and combination therapies;

The company has a highly specialized pharmaceutical production base in Taichung and has passed the GMP certifications of both the FDA and EMA, possessing advanced pharmaceutical manufacturing capabilities to support the global commercialization of the company's products.

Yao Hua Medicine also boasts an experienced management team with profound insights into drug discovery and product transformation.

Myeloproliferative neoplasms (MPNs) are a type of blood malignancy, characterized by an excessive production of one or more types of blood cells in the patient's bone marrow, such as red blood cells, white blood cells, and platelets. The main subtypes include: Polycythemia vera (PV), Essential thrombocythemia (ET), Myelofibrosis (MF), etc.

The global patient population with multiple myeloma (MPNs) is vast, reaching approximately 490 million in 2022, with a compound annual growth rate of 3.4% from 2017 to 2022. It is estimated that the number will reach 540 million and 640 million by 2025 and 2030, respectively, with annual compound growth rates of 3.3% and 3.5%. Since MPNs typically progress slowly over time and current treatment methods cannot completely cure the disease, there is a huge global stockpile of patients with MPNs, leading to significant unmet clinical needs.

Epidemiological analysis of myeloproliferative neoplasms (MPNs) globally

2017 - 2030E

Source: Literature review, Frost & Sullivan report

Interferon-alpha (IFN-α) is an immune protective cytokine produced by the innate immune response of the human body in response to viral infections. After binding to its receptor (IFNAR), IFN-α can activate related downstream signaling pathways, mainly including JAK1, TYK2, and STAT, ultimately contributing to tumor development. Currently, several interferon-α drugs have been approved globally, but only BESREMi has been approved for the treatment of polycythemia vera (PV).^®A medication. Additionally, BESREMi^®Clinical trials for thrombocythemia (ET) have progressed to phase III, and there is significant market growth potential in the future.

Source: Clinicaltrials.gov, Frost & Sullivan report

Frost & Sullivan, integrating 62 years of global consulting experience, has dedicated 25 years to serving the booming Chinese market. With a global perspective, we help clients accelerate their business growth and achieve benchmark positions in industry growth, innovation, and leadership. The healthcare industry is one of Frost & Sullivan's core areas of focus. Over the past 20-plus years, the Frost & Sullivan team has provided financing and financial advisory services, IPO industry advice, strategic consulting, management consulting, and other services to hundreds of outstanding domestic and international biopharmaceutical, medical device, healthcare service, and internet healthcare companies. Successful listings include: Zhongjin Medical (NASDAQ:ZJYL), Yisheng Biotech (NASDAQ:YS), Meiliyuan (2373.HK), Kangfeng Biotech (6922.HK), Bao'an Biotech (6955.HK), Sididi (1244.HK), Meihao Medical (1947.HK), Gaoshi Medical (2407.HK), Lepu Xintai (2291.HK), Jian Shi Technology (9877.HK), Health Yuan (JCARE.SW), Lepu Medical (LEPU.SW), Dingdang Health (9886.HK), BAIOSUTU (2315.HK), Zhiyun Health (9955.HK), MeinGene (6667.HK), Prenetics (PRE.NASDAQ), Yunkang Group (2325.HK), Ruike Biotech (2179.HK), Lepu Biotech (2157.HK), Clear Medical (1406.HK), Bai Xin An (2185.HK), Yonghe Medical (2279.HK), Kailai Ying (6821.HK), Beihai Kangcheng (1228.HK), Gusheng Tang (2273.HK), Yingtong Technology (2251.HK), Clover Biotech (2197.HK), Minimally Invasive Robotics (2252.HK), Harmony Kamane (2256.HK), Kunbo Medical (2216.HK), Xianruida (6669.HK), Kang Sheng Global (9960.HK), Yimaitong (2192.HK), Tengsheng Bo Yao (2137.HK), Canova (2162.HK), Chaoyuju Eye Hospital (2219.HK), Guichuang Tongqiao (2190.HK), Hua Huang Medicine (0013.HK), Cope Pharmaceutical (2171.HK), Zhao Ke Ophthalmology (6622.HK), Nature Pharmacy (UPC.NASDAQ), Saiseng Pharmaceutical (6600.HK), Zhaoyan New Drug (6127.HK), Novogene Health (6606.HK), ADAG.NASDAQ, Beikang Medical (2170.HK), Jian Bimiao Miao Miao (2161.HK), Minimally Invasive Xin Tong (2160.HK), Rui Li Medical Beauty (2135.HK), Jiake Pharmaceutical (1167.HK), Hepo Pharma (2142.HK), JD Health (6618.HK), Deqi Pharmaceutical (6996.HK), Rongchang Biotech (9995.HK), WuXi AppTec (2126.HK), Sino Biologics (2096.HK), Yunding New Energy (1952.HK), Jiahe Biotech (6998.HK), Zai Ding Medicine (9688.HK), Ocular Biotechnology (1477.HK), Yongtai Biotech (6978.HK), Haipu Pharmaceutical (9989.HK), Kechuang Pharmaceutical (9939.HK), Peijia Medical (9996.HK), Kangfang Biotech (9926.HK), Nuo Cheng Jian Hua (9969.HK), Tian Jing 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), Mabot Pharmaceutical (2181.HK), Fangda Holdings (1521.HK), Via Biotech (1873.HK), CStone Pharmaceuticals (2616.HK), Junshi Biosciences (1877.HK), WuXi AppTec (2359.HK), Xinda Biotech (1801.HK), Hualing Medicine (2552.HK), BeiGene (6160.HK), Gilead Sciences (1672.HK), WuXi AppTec (2269.HK), China Resources Pharmaceutical (3320.HK), Yajichen Scientific Research Pharmaceutical (2633.HK), Hua Huang China Medicine (HCM.NASDAQ), Biotechnology (1548.HK), BBI Life Science (1035.HK), etc. In terms of the number of filings, the Frost & Sullivan healthcare team maintains an absolute leading position in Hong Kong's healthcare IPO market, consistently ranking first in market share from 2018 to 2022.

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: Kangwei Century (688426.SH), Jincan Protein (688137.SH), Nuo Cheng Jianhua (688428.SH), Aopu Mai Biotech (688293.SH), MicroPort Electrophysiology (688351.SH), Mengke Pharmaceutical (688373.SH), Yifang Biotech (688382.SH), Jicui Yaokang (688046.SH), Haichuang Pharmaceutical (688302.SH), Rongchang Biotech (688331.SH), Rendu Biotech (688193.SH), Shouyao Holdings (688197.SH), Heyuan Biotech (688238.SH), Yaxin Security (688225.SH), Xidi Micro (688173.SH), Mawei Biotech (688062.SH), Yahong Medicine (688176.SH), BeiGene (688235.SH), Jiahe Meikang (688246.SH), Dizhe Medicine (688192.SH), Novogene (688105.SH), Chengda Biotech (688739.SH), Geke Micro (688728.SH), Huaxi Biotech (688363.SH), Junshi Biotech (688180.SH), Zhejiang Oncology (688266.SH), BeiGene (688177.SH), Shenzhou Cells (688520.SH), etc. They are considered one of the most powerful, professional, and influential industry research institutions in the sector. We hope to work with enterprises to understand industry trends, seize development opportunities, jointly promote innovation and upgrading of China's healthcare industry, and build a healthy future.