HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

LongBio Pharma (Suzhou) / Equity Capital Markets

<ul>
<li>LP-003’s indications are small if compared with big indications in autoimmune diseases.So, LP-003 needs to demonstrate excellent efficacy. Otherwise, it would face fierce competition from Xolair/biosimilars, leaving limited market space.</li>
<li>The core advantage of LP-005 is that multi-target complement inhibitor has superior efficacy potential compared to single-target ones. The downside is the concerns on safety profile and slow R&amp;D progress.</li>
<li>Post-Money valuation of <a href="https://www.smartkarma.com/entities/longbio-pharma-suzhou-co-ltd" target="_blank" data-smartkarma-citation="entities:45688:1" rel="noopener">LongBio Pharma </a>reached about RMB2 billion after Series C Financing. A comfortable valuation range could be RMB3-5 billion, or about 50%-150% upside from Series C Financing.</li>
</ul>


LP-003’s indications are small if compared with big indications in autoimmune diseases.So, LP-003 needs to demonstrate excellent efficacy. Otherwise, it would face fierce competition from Xolair/biosimilars, leaving limited market space.
The core advantage of LP-005 is that multi-target complement inhibitor has superior efficacy potential compared to single-target ones. The downside is the concerns on safety profile and slow R&amp;D progress.
Post-Money valuation of LongBio Pharma reached about RMB2 billion after Series C Financing. A comfortable valuation range could be RMB3-5 billion, or about 50%-150% upside from Series C Financing.


Pre-IPO LongBio Pharma (Suzhou) - Thoughts on The Pipeline and The Commercialization Outlook

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>LongBio Pharma, a clinical-stage biopharmaceutical company, has launched its HK IPO consisting of 14M H shares. The offer price has been fixed at HK$96.06 per share.</li>
<li>The company intends to raise HK$1,345M, primarily for the R&amp;D and commercialization of core product and key product, and further development of other pre-clinical pipeline products and R&amp;D platforms.</li>
<li>The subscription period will close on June 2, 2026, with the shares expected to make trading debut on June 5, 2026.</li>
</ul>


LongBio Pharma, a clinical-stage biopharmaceutical company, has launched its HK IPO consisting of 14M H shares. The offer price has been fixed at HK$96.06 per share.
The company intends to raise HK$1,345M, primarily for the R&amp;D and commercialization of core product and key product, and further development of other pre-clinical pipeline products and R&amp;D platforms.
The subscription period will close on June 2, 2026, with the shares expected to make trading debut on June 5, 2026.


LongBio Pharma IPO: Not Enough Prospective Yet to Prevent Investor Allergy

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LongBio Pharma (Suzhou) / Equity Bottom-Up

<ul>
  <li>LongBio Pharma is a clinical-stage biopharmaceutical company with a strategic focus on the large and rapidly growing market for allergic and autoimmune diseases in China.</li>
  <li>The company's lead asset, LP-003, a next-generation anti-IgE antibody, has shown promising clinical data and is advancing to late-stage trials, positioning it as a potential key value driver.</li>
  <li>As a pre-revenue entity, LongBio Pharma's investment profile is characterized by high growth potential, contingent on clinical trial success and regulatory approvals, alongside significant development and commercialization risks.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  LongBio Pharma is a clinical-stage biopharmaceutical company with a strategic focus on the large and rapidly growing market for allergic and autoimmune diseases in China.
  The company's lead asset, LP-003, a next-generation anti-IgE antibody, has shown promising clinical data and is advancing to late-stage trials, positioning it as a potential key value driver.
  As a pre-revenue entity, LongBio Pharma's investment profile is characterized by high growth potential, contingent on clinical trial success and regulatory approvals, alongside significant development and commercialization risks.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: LongBio Pharma (Suzhou) (LBP HK) - May 2026

Thematic (Sector/Industry)

<ul>
<li>Henlius Biotech is collaborating with Sandoz for commercialization of up to 10 biosimilars in ~$322M deal. Wuxi XDC achieved GMP release of its antibody bioconjugates production line at Singapore site.</li>
<li>Chugai Pharmaceutical signed an exclusive license agreement with GSK for the anti-dengue virus antibody AID351. Daiichi Sankyo’s Enhertu demonstrated PFS improvement as first-line treatment of NSCLC in Phase 3 trial.</li>
<li>Celltrion has launched IV formulation of Steqeyma in Japan. Eubiologics submitted an IND to the MFDS for domestic Phase 1 trial for its Alzheimer’s disease vaccine candidate, Padivax.</li>
</ul>


Henlius Biotech is collaborating with Sandoz for commercialization of up to 10 biosimilars in ~$322M deal. Wuxi XDC achieved GMP release of its antibody bioconjugates production line at Singapore site.
Chugai Pharmaceutical signed an exclusive license agreement with GSK for the anti-dengue virus antibody AID351. Daiichi Sankyo’s Enhertu demonstrated PFS improvement as first-line treatment of NSCLC in Phase 3 trial.
Celltrion has launched IV formulation of Steqeyma in Japan. Eubiologics submitted an IND to the MFDS for domestic Phase 1 trial for its Alzheimer’s disease vaccine candidate, Padivax.


APAC Healthcare Weekly (August 23) – Henlius Bio, Wuxi XDC, Chugai Pharma, Daiichi Sankyo, Celltrion

<ul>
<li>Sichuan Kelub Biotech’s sac-TMT in combination with Keytruda as a first-line treatment for PD-L1-negative non-squamous NSCL) met primary endpoint. NMPA accepted CSPC Pharma’s NDA for Trastuzumab Envedotin (HER2-targeted ADC).</li>
<li>InSilico Medicine announced a multi-target strategic alliance with Bora Pharmaceuticals. Eisai secured FDA approval for a once-weekly Leqembi subcutaneous autoinjector as an initiation dose for Alzheimer’s disease.</li>
<li>Celltrion obtained domestic approval for Phase 1 clinical trials for its Tremfya biosimilar candidate, CT-P68. Mesoblast achieved target of 300 patients treated in Phase 3 trial of rexlemestrocel-L for CLBP.</li>
</ul>


Sichuan Kelub Biotech’s sac-TMT in combination with Keytruda as a first-line treatment for PD-L1-negative non-squamous NSCL) met primary endpoint. NMPA accepted CSPC Pharma’s NDA for Trastuzumab Envedotin (HER2-targeted ADC).
InSilico Medicine announced a multi-target strategic alliance with Bora Pharmaceuticals. Eisai secured FDA approval for a once-weekly Leqembi subcutaneous autoinjector as an initiation dose for Alzheimer’s disease.
Celltrion obtained domestic approval for Phase 1 clinical trials for its Tremfya biosimilar candidate, CT-P68. Mesoblast achieved target of 300 patients treated in Phase 3 trial of rexlemestrocel-L for CLBP.


APAC Healthcare Weekly (July 19) – Kelun Bio, CSPC Pharma, Insilico, Eisai, Celltrion, Mesoblast

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LongBio Pharma (Suzhou) (LBP HK)

Pre-IPO LongBio Pharma (Suzhou) - Thoughts on The Pipeline and The Commercialization Outlook

The IPO pricing of LongBio is HK$96.06/share, with market value of HK$7.13bn (or RMB6.2bn), over 300% higher than the RMB2bn valuation after Series...

Xinyao (Criss) Wang

LongBio Pharma IPO: Not Enough Prospective Yet to Prevent Investor Allergy

LongBio has launched its HK IPO consisting of 14M H shares at HK$96.06 per share to fund R&D and commercialization of its core product candidate....

Tina Banerjee

Primer: LongBio Pharma (Suzhou) (LBP HK) - May 2026

LongBio Pharma is a clinical-stage biopharmaceutical company with a strategic focus on the large and rapidly growing market for allergic and...

αSK Primers

APAC Healthcare Weekly (August 23) – Henlius Bio, Wuxi XDC, Chugai Pharma, Daiichi Sankyo, Celltrion

Henlius strikes biosimilar commercialization deal with Sandoz. Chugai signs exclusive license deal with GSK for anti-dengue virus antibody....

Tina Banerjee

APAC Healthcare Weekly (July 19) – Kelun Bio, CSPC Pharma, Insilico, Eisai, Celltrion, Mesoblast

Kelun Biotech’s sac-TMT met primary endpoint in Phase 3 trial. FDA approves Eisai’s Leqembi Iqlik for Alzheimer’s starting therapy. Mesoblast met...

Tina Banerjee

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