Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>Fosun Pharma is acquiring 53% stake in Green Valley Pharmaceuticals for ~$200M, to bolster CNS portfolio. Hansoh Pharmaceutical entered an exclusive license agreement with Glenmark Pharma for NSCLC drug Ameile.</li>
<li>Daiichi Sankyo received FDA approval for Enhertu as first-line treatment for HER2+ breast cancer. Takeda Pharmaceutical announced positive topline results for two P3 studies of zasocitinib in moderate-to-severe plaque psoriasis.</li>
<li>Hanmi Pharmaceutical filed domestic marketing application for efpeglenatide autoinjector, the first domestically developed GLP-1-based obesity drug. Max Healthcare announced INR10B+ investment for a ~450 bedded hospital in Pune.</li>
</ul>


Fosun Pharma is acquiring 53% stake in Green Valley Pharmaceuticals for ~$200M, to bolster CNS portfolio. Hansoh Pharmaceutical entered an exclusive license agreement with Glenmark Pharma for NSCLC drug Ameile.
Daiichi Sankyo received FDA approval for Enhertu as first-line treatment for HER2+ breast cancer. Takeda Pharmaceutical announced positive topline results for two P3 studies of zasocitinib in moderate-to-severe plaque psoriasis.
Hanmi Pharmaceutical filed domestic marketing application for efpeglenatide autoinjector, the first domestically developed GLP-1-based obesity drug. Max Healthcare announced INR10B+ investment for a ~450 bedded hospital in Pune.


APAC Healthcare Weekly (December 21)–Fosun Pharma, Hansoh, Daiichi Sankyo, Takeda, Hanmi, Max Health

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Country Garden Holdings Co / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>There were no major IPO launches during the week. Soosan will list early next week.</li>
<li>There were a number of placements/blocks across the region, including GDR launches for Swiss listing.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
There were no major IPO launches during the week. Soosan will list early next week.
There were a number of placements/blocks across the region, including GDR launches for Swiss listing.


ECM Weekly (31st Jul 2022) - Soosan, WCP, GDRs, Yancoal, Country Garden, Legend Biotech, MEP, PSMC

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Cryofocus Medtech (Shanghai) / Equity Capital Markets

<ul>
<li>Cryofocus Medtech is a China based medical device company with a focus on cryoablation. The company is look to raise $50-100m to list in Hong Kong.</li>
<li>We take a quick look at Cryofocus' key products, including AF cryoablation system and bladder cryoablation system.</li>
<li>We think its products are not impressive. Neither does its investor line-ups and management team impress us much.</li>
</ul>


Cryofocus Medtech is a China based medical device company with a focus on cryoablation. The company is look to raise $50-100m to list in Hong Kong.
We take a quick look at Cryofocus' key products, including AF cryoablation system and bladder cryoablation system.
We think its products are not impressive. Neither does its investor line-ups and management team impress us much.


Cryofocus Medtech (康灃生物科技) Pre-IPO: Unimpressive Fundamentals

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>The cryoablation market accounts for about 1/3 of the total tumor ablation market overseas, while this percentage is less than 1/10 in China, indicating promising growth potential in the future.</li>
<li>
<a href="https://www.smartkarma.com/entities/cryofocus-medtech-shanghai-co-ltd" target="_blank" data-smartkarma-citation="entities:35417:1" rel="noopener">Cryofocus Medtech (Shanghai) (CFM HK)</a>’s products and candidates do have technical advantages, offering more choices for patients and doctors.</li>
<li>However, the commercialization outlook remains to be seen because of the potential large price reduction after entering national medical insurance coverage and the uncertainties over acceptance by patients and doctors.</li>
</ul>


The cryoablation market accounts for about 1/3 of the total tumor ablation market overseas, while this percentage is less than 1/10 in China, indicating promising growth potential in the future.

Cryofocus Medtech (Shanghai) (CFM HK)’s products and candidates do have technical advantages, offering more choices for patients and doctors.
However, the commercialization outlook remains to be seen because of the potential large price reduction after entering national medical insurance coverage and the uncertainties over acceptance by patients and doctors.


Pre-IPO Cryofocus Medtech (Shanghai) - The Industry, the Business and the Concerns

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Cryofocus Medtech (Shanghai) (CFM HK)

APAC Healthcare Weekly (December 21)–Fosun Pharma, Hansoh, Daiichi Sankyo, Takeda, Hanmi, Max Health

Fosun Pharma is acquiring 53% stake in Green Valley. Hansoh inked exclusive license agreement with Glenmark Pharma. Daiichi Sankyo’s Enhertu got...

Tina Banerjee

ECM Weekly (31st Jul 2022) - Soosan, WCP, GDRs, Yancoal, Country Garden, Legend Biotech, MEP, PSMC

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Cryofocus Medtech (康灃生物科技) Pre-IPO: Unimpressive Fundamentals

Cryofocus Medtech is a China based medical device company with a focus on cryoablation. We take a quick look at its key products, including AF...

Ke Yan, CFA, FRM

Pre-IPO Cryofocus Medtech (Shanghai) - The Industry, the Business and the Concerns

Cryofocus Medtech’s products do have technical advantages, but the commercialization outlook remains to be seen due to large price reduction after...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)