Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Equity Capital Markets

Jacobio Pharmaceuticals / Equity Capital Markets

Jacobio Pharmaceuticals Group is a pre-revenue pharmaceutical company focused on “drugging the undruggable” targets to treat cancer. The company's pipeline is cutting edge and early stage, but comes with relatively high risk. A license and collaboration agreement with multinational <a href="https://www.smartkarma.com/entities/abbvie-inc" target="_blank" data-smartkarma-citation="entities:1135:1" rel="noopener">Abbvie Inc (ABBV US)</a> provides validation and non-dilutive funding. The management team is experienced and accomplished. The venture investors are credible; and the patent estate has a long life.This Insight provides an overview of the business, including some initial thoughts on valuation. We will provide an update with more definitive views on valuation in a future Insight.

Jacobio Pharmaceuticals Group is a pre-revenue pharmaceutical company focused on “drugging the undruggable” targets to treat cancer. The company's pipeline is cutting edge and early stage, but comes with relatively high risk. A license and collaboration agreement with multinational Abbvie Inc (ABBV US) provides validation and non-dilutive funding. The management team is experienced and accomplished. The venture investors are credible; and the patent estate has a long life.This Insight provides an overview of the business, including some initial thoughts on valuation. We will provide an update with more definitive views on valuation in a future Insight.

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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Jacobio is a clinical stage China biotech company with a focus on small molecule oncology drugs. The company was founded by Dr. Wang, co-founder of Betta Pharma, and aims to raise up to USD 400m.The company has three clinical-stage assets, SHP2 inhibitors (JAB-3068 and JAB-3312) and BET inhibitor (JAB-8263). The SHP2 inhibitors show a synergistic effect with PD-1 and KRAS inhibitors in pre-clinical studies but not efficacy as monotherapy in clinical trials. The out-licensing agreement to AbbVie, with a total payment of up to USD 855m plus sales royalties, is significant for a China biotech company.Its BET inhibitor (JAB-8263) is also in the early stage of clinical development which demonstrated strong affinity and anti-tumor activities as compared to benchmark products.We think both the management team and investor backing is strong. Besides the efficacy of the JAB-3068, we are concerned about the long lead time to commercialization which is as late as 2025.

Jacobio is a clinical stage China biotech company with a focus on small molecule oncology drugs. The company was founded by Dr. Wang, co-founder of Betta Pharma, and aims to raise up to USD 400m.The company has three clinical-stage assets, SHP2 inhibitors (JAB-3068 and JAB-3312) and BET inhibitor (JAB-8263). The SHP2 inhibitors show a synergistic effect with PD-1 and KRAS inhibitors in pre-clinical studies but not efficacy as monotherapy in clinical trials. The out-licensing agreement to AbbVie, with a total payment of up to USD 855m plus sales royalties, is significant for a China biotech company.Its BET inhibitor (JAB-8263) is also in the early stage of clinical development which demonstrated strong affinity and anti-tumor activities as compared to benchmark products.We think both the management team and investor backing is strong. Besides the efficacy of the JAB-3068, we are concerned about the long lead time to commercialization which is as late as 2025.

Jacobio (加科思药业) Pre-IPO: Right Team but Long Time to Market

China

Jacobio Pharmaceuticals Co. Ltd. operates as a biotech company. The Company develops and sells cancer innovative drugs, autoimmune drugs, infectious diseases drugs, and other products. Jacobio Pharmaceuticals markets its products throughout China.

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Jacobio Pharmaceuticals (1167 HK)

Jacobio Pharma: Focus on Novel Targets

An in-depth overview of the proposed listing of Jacobio Pharmaceuticals using a framework that touches on the science, market opportunity,...

Kemp Dolliver, CFA

Jacobio (加科思药业) Pre-IPO: Right Team but Long Time to Market

Jacobio is a clinical stage China biotech company with a focus on small molecule oncology drugs. The company was founded by Dr. Wang, co-founder of...

Ke Yan, CFA, FRM

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