Good News on Listing | Frost & Sullivan Congratulates Suzhou Coastal Protein Technology Co., Ltd. on Successful Listing on the Sci-tech Innovation Board

Suzhou Coastal Protein Technology Co., Ltd. (hereinafter referred to as 'Coastal Protein') successfully went public on September 29, 2022, issuing 1,754.3860 million shares at an issue price of 106.19 yuan per share.

The company is a high-tech enterprise focusing on recombinant protein application solutions. Its main business includes the research, development, production, and sales of target and factor proteins, recombinant antibodies, enzymes, and reagents, as well as providing related technical services. As an upstream supplier in the fields of healthcare and life sciences, the company is committed to providing timely, stable, and high-quality products and services to downstream customers, helping global biopharmaceutical enterprises and research institutions innovate and upgrade their technologies and products. The company has established comprehensive technical platforms in protein research and development technology, antibody development, enzyme molecular evolution technology, and application fields such as diagnostics, vaccines, and drugs, enabling innovative support for the entire industrial chain from protein raw materials to application technology development. Frost & Sullivan has long been paying attention to the global and Chinese biopharmaceutical industries, publishing a large number of research reports that are widely cited in the prospectuses of leading science and technology innovation board listed companies, helping customers accelerate their growth.

With the vigorous development of the domestic biopharmaceutical industry and the impact of the COVID-19 pandemic, the recombinant protein market has shown strong momentum. The scale of China's recombinant protein market grew from 5.1 billion yuan in 2015 to 14.54 billion yuan in 2020, with an annual compound growth rate of 23.3% during this period. It is expected that the market size will reach 337.7 billion yuan by 2025, with an annual compound growth rate approaching 18.4% between 2020 and 2025.

With the development of scientific research, biopharmaceutical industries, and the rise of precision medicine, research institutions and pharmaceutical companies have significantly increased their requirements for the quality of recombinant proteins, preferring to choose more stable and mature high-quality recombinant proteins to reduce the failure rate of drug research and development and production. Therefore, the demand for recombinant protein products will change accordingly with the development of downstream markets such as biopharmaceutical research and development, diagnostics, and new vaccines. Recombinant protein raw material enterprises with high product quality and strong brand influence will be more competitive in future market competition, gain market recognition, and achieve sustainable development. In China, the overall market for recombinant protein biological research reagents grew from 420 million yuan in 2015 to 1.14 billion yuan in 2020, with an annual compound growth rate of 22.1% during this period. It is estimated that the market size will reach 25.4 billion yuan by 2025, with an annual compound growth rate of 17.4% between 2020 and 2025.

The overall rapid development of China's IVD industry has driven the synchronous growth of upstream industrial chains. Affected by the COVID-19 pandemic, the demand for IVD reagent raw materials has continuously expanded, increasing from 3.3 billion yuan in 2015 to 10.1 billion yuan in 2020, with a compound annual growth rate of 25.2% from 2015 to 2020. It is estimated that the market size will reach 253 billion yuan by 2025, with a compound annual growth rate of 20.2% from 2020 to 2025.

In China, the rise of mRNA therapy has driven rapid growth in the upstream enzyme raw material market. After the outbreak of the COVID-19 pandemic in 2020, a large number of Chinese companies actively carried out clinical research on innovative mRNA therapies targeting the novel coronavirus. The market size of upstream enzyme raw materials reached 150 million RMB in 2020. In the future, due to the wide range of therapeutic areas that mRNA therapy can be applied to and several anti-infective preventive vaccines, tumor immunotherapy, and therapeutic drugs/vaccine projects already in the research and development or clinical stages, it is estimated that the market size of enzyme raw materials required for mRNA therapy will reach 1.47 billion RMB by 2025.