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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mirxes-holding-company-limited" target="_blank" data-smartkarma-citation="entities:39971:1" rel="noopener">Mirxes Holding (2629 HK)</a> raised around US$130m in its Hong Kong listing in May 2025. The lockup on its pre-IPO shareholders is set to expire soon.</li>
<li>Mirxes is a Singapore-headquartered micro ribonucleic acid (miRNA) technology company, making diagnostic solutions for the screening of diseases accessible across key markets in Asia, including Singapore and China.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Mirxes Holding (2629 HK) raised around US$130m in its Hong Kong listing in May 2025. The lockup on its pre-IPO shareholders is set to expire soon.
Mirxes is a Singapore-headquartered micro ribonucleic acid (miRNA) technology company, making diagnostic solutions for the screening of diseases accessible across key markets in Asia, including Singapore and China.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: Mirxes IPO Lockup - 44% of the Stock up for Lockup Release, with a Lot of CCASS Movement

Global Healthcare Analyst

Tina Banerjee

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mirxes-holding-company-limited" target="_blank" data-smartkarma-citation="entities:39971:1" rel="noopener">Mirxes Holding (2629 HK)</a> announced the placement of 21.9M shares for subscription at HK$32.5 per share.</li>
<li>Mirxes intends to use the proceeds majorly for investments, mergers &amp; acquisitions activities, research and development, expansion into emerging markets such as India and working capital purpose.  </li>
<li>Mirxes has established a strong competitive position in a niche category. Their comprehensive pipeline of early disease detection has significant market opportunities globally.</li>
</ul>



Mirxes Holding (2629 HK) announced the placement of 21.9M shares for subscription at HK$32.5 per share.
Mirxes intends to use the proceeds majorly for investments, mergers &amp; acquisitions activities, research and development, expansion into emerging markets such as India and working capital purpose.  
Mirxes has established a strong competitive position in a niche category. Their comprehensive pipeline of early disease detection has significant market opportunities globally.


Mirxes Holding (2629 HK) Placement: Operating in Niche Segment With Significant Growth Opportunity

Thematic (Sector/Industry)

<ul>
<li>Hansoh Pharmaceutical obtained clinical trial approval for HS10587 tablets for advanced solid tumors. CSPC Pharmaceutical got registration approval for Aprepitant Injection for the prevention of postoperative nausea and vomiting.</li>
<li>Chugai Pharmaceutical’s partner Roche has decided to discontinue the clinical development of GYM329 (emugrobart). Otsuka is acquiring the U.S.-based Transcend Therapeutics for an upfront payment of $700M.</li>
<li>Celltrion will invest KRW 1.2T to construct Plants 4 and 5 at its Songdo campus. Alteogen entered license agreement with Biogen for development of subcutaneous formulations of biologics utilizing ALT-B4.</li>
</ul>


Hansoh Pharmaceutical obtained clinical trial approval for HS10587 tablets for advanced solid tumors. CSPC Pharmaceutical got registration approval for Aprepitant Injection for the prevention of postoperative nausea and vomiting.
Chugai Pharmaceutical’s partner Roche has decided to discontinue the clinical development of GYM329 (emugrobart). Otsuka is acquiring the U.S.-based Transcend Therapeutics for an upfront payment of $700M.
Celltrion will invest KRW 1.2T to construct Plants 4 and 5 at its Songdo campus. Alteogen entered license agreement with Biogen for development of subcutaneous formulations of biologics utilizing ALT-B4.


APAC Healthcare Weekly (March 29) – Hansoh, CSPC, Chugai, Takeda, Otsuka, Celltrion, Alteogen

<ul>
<li>Sino Biopharmaceutical entered outlicensing agreement with Sanofi for rovadicitinib for upfront payment of $135M. Antengene entered outlicensing agreement with UCB for ATG-201 for upfront and near-term milestone payment of $80M.</li>
<li>FDA accepted Takeda’s NDA for polycythemia vera drug rusfertide and granted Priority Review.  Sumitomo Pharma received conditional and time‑limited approval in Japan for the allogeneic cell product Amchepry.</li>
<li>FDA has cleared ABL Bio’s application for a Phase 1 clinical trial of ABL209. Glenmark Pharmaceuticals received FDA approval for generic Flovent with 180-day CGT exclusivity.</li>
</ul>


Sino Biopharmaceutical entered outlicensing agreement with Sanofi for rovadicitinib for upfront payment of $135M. Antengene entered outlicensing agreement with UCB for ATG-201 for upfront and near-term milestone payment of $80M.
FDA accepted Takeda’s NDA for polycythemia vera drug rusfertide and granted Priority Review.  Sumitomo Pharma received conditional and time‑limited approval in Japan for the allogeneic cell product Amchepry.
FDA has cleared ABL Bio’s application for a Phase 1 clinical trial of ABL209. Glenmark Pharmaceuticals received FDA approval for generic Flovent with 180-day CGT exclusivity.


APAC Healthcare Weekly (March 8) – Sino Bio, Antengene, Takeda, Sumitomo Pharma, ABL Bio, Glenmark

<ul>
<li>CStone Pharmaceuticals got additional indication approval for sugemalimab from UK MHRA in NSCLC. HBM Holdings entered into an exclusive license agreement and equity partnership agreement with Solstice Oncology.</li>
<li>Astellas Pharma and Vir Biotechnology entered a global strategic collaboration to advance VIR-5500 for prostate cancer. Bora Pharmaceuticals has renewed a five-year manufacturing partnership with GSK.</li>
<li>Lupin received EC approval for ranibizumab biosimilar. Zydus Lifesciences announces successful clinical development of pembrolizumab biosimilar candidate FYB206. FDA has accepted for review Dr. Reddy’s Laboratories’ BLA for Orencia biosimilar.</li>
</ul>


CStone Pharmaceuticals got additional indication approval for sugemalimab from UK MHRA in NSCLC. HBM Holdings entered into an exclusive license agreement and equity partnership agreement with Solstice Oncology.
Astellas Pharma and Vir Biotechnology entered a global strategic collaboration to advance VIR-5500 for prostate cancer. Bora Pharmaceuticals has renewed a five-year manufacturing partnership with GSK.
Lupin received EC approval for ranibizumab biosimilar. Zydus Lifesciences announces successful clinical development of pembrolizumab biosimilar candidate FYB206. FDA has accepted for review Dr. Reddy’s Laboratories’ BLA for Orencia biosimilar.


APAC Healthcare Weekly (March 1) – CStone, HBM, Astellas, Bora Pharma, Lupin, Zydus Lifesciences

Singapore

Mirxes is a Singapore-headquartered micro ribonucleic acid (miRNA) technology company that develops diagnostic solutions for the early detection of diseases, including cancer, cardiovascular, metabolic, and infectious diseases. Its key products include GASTROClear, a blood-based test for gastric cancer screening, and LUNGClear for lung cancer screening, along with Fortitude COVID-19 RT-qPCR test kits. The company was founded in 2014.

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

Mirxes (2629 HK)

Aequitas: Mirxes IPO Lockup - 44% of the Stock up for Lockup Release, with a Lot of CCASS Movement

Mirxes Holding (2629 HK) raised around US$130m in its Hong Kong listing in May 2025. The lockup on its pre-IPO shareholders is set to expire soon.

Sumeet Singh

Mirxes Holding (2629 HK) Placement: Operating in Niche Segment With Significant Growth Opportunity

Mirxes (2629 HK) is placing shares at HK$32.5 to fund M&A, R&D, expanding into emerging markets etc. Enjoys strong competitive position in early...

Tina Banerjee

APAC Healthcare Weekly (March 29) – Hansoh, CSPC, Chugai, Takeda, Otsuka, Celltrion, Alteogen

Hansoh got trial approval, while CSPC obtained new drug approval. Chugai’s partner is discontinuing development of emugrobart. Otsuka is acquiring...

Tina Banerjee

APAC Healthcare Weekly (March 8) – Sino Bio, Antengene, Takeda, Sumitomo Pharma, ABL Bio, Glenmark

Sino Bio and Anetengene stuck outlicensing deals with Sanofi and UCB, respectively. FDA accepted Takeda’s NDA for rusfertide. Sumitomo Pharma got...

Tina Banerjee

APAC Healthcare Weekly (March 1) – CStone, HBM, Astellas, Bora Pharma, Lupin, Zydus Lifesciences

CStone’s sugemalimab got label expansion in UK. HBM Holdings entered exclusive license agreement with Solstice Oncology. Astellas Pharma and Vir...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas: Mirxes IPO Lockup - 44% of the Stock up for Lockup Release, with a Lot of CCASS Movement

Mirxes Holding (2629 HK) raised around US$130m in its Hong Kong listing in May 2025. The lockup on its pre-IPO shareholders is set to expire soon.

Sumeet Singh

Mirxes Holding (2629 HK) Placement: Operating in Niche Segment With Significant Growth Opportunity

​Mirxes (2629 HK) is placing shares at HK$32.5 to fund M&A, R&D, expanding into emerging markets etc. Enjoys strong competitive position in early...

Tina Banerjee

APAC Healthcare Weekly (March 29) – Hansoh, CSPC, Chugai, Takeda, Otsuka, Celltrion, Alteogen

Hansoh got trial approval, while CSPC obtained new drug approval. Chugai’s partner is discontinuing development of emugrobart. Otsuka is acquiring...

Tina Banerjee

APAC Healthcare Weekly (March 8) – Sino Bio, Antengene, Takeda, Sumitomo Pharma, ABL Bio, Glenmark

Sino Bio and Anetengene stuck outlicensing deals with Sanofi and UCB, respectively. FDA accepted Takeda’s NDA for rusfertide. Sumitomo Pharma got...

Tina Banerjee

APAC Healthcare Weekly (March 1) – CStone, HBM, Astellas, Bora Pharma, Lupin, Zydus Lifesciences

CStone’s sugemalimab got label expansion in UK. HBM Holdings entered exclusive license agreement with Solstice Oncology. Astellas Pharma and Vir...

Tina Banerjee

Mirxes (2629 HK) is placing shares at HK$32.5 to fund M&A, R&D, expanding into emerging markets etc. Enjoys strong competitive position in early...