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.

Equity Capital Markets

<ul>
<li>Mirxes, a Singapore-headquartered RNA technology company with a focus on cancer screening, plans to raise up to US$100m via a Hong Kong listing.</li>
<li>In this insight, we examine its key product, GASTROClear's technical and clinical data. We also look at the competitive landscape.</li>
<li>We are of the view that the company's product, despite improving the accuracy over incumbent competitors marginally, is not a killer product and will face challenges in ramping up sales.</li>
</ul>


Mirxes, a Singapore-headquartered RNA technology company with a focus on cancer screening, plans to raise up to US$100m via a Hong Kong listing.
In this insight, we examine its key product, GASTROClear's technical and clinical data. We also look at the competitive landscape.
We are of the view that the company's product, despite improving the accuracy over incumbent competitors marginally, is not a killer product and will face challenges in ramping up sales.


Mirxes Pre-IPO: Early Signs of Commercialization Challenges

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>Although Mirxes has already commercialized its products, its total revenue fluctuated greatly. When the market demand for COVID-19 testing kits sharply declined, the Company’s financial position deteriorated immediately.</li>
<li>With the highest incidence rate of gastric cancer worldwide, PRC market is important to Mirxes. How to gain recognition from doctors and enter hospital market is a challenge for GASTROClear.</li>
<li>Mirxes is facing survival problem and eager for an IPO. Before Mirxes establishes a clear/visible path to commercialization and a successful profit model in post-COVID era, we would remain cautious. </li>
</ul>


Although Mirxes has already commercialized its products, its total revenue fluctuated greatly. When the market demand for COVID-19 testing kits sharply declined, the Company’s financial position deteriorated immediately.
With the highest incidence rate of gastric cancer worldwide, PRC market is important to Mirxes. How to gain recognition from doctors and enter hospital market is a challenge for GASTROClear.
Mirxes is facing survival problem and eager for an IPO. Before Mirxes establishes a clear/visible path to commercialization and a successful profit model in post-COVID era, we would remain cautious. 


Pre-IPO Mirxes Holding Company - The Profit Model in the Post Pandemic Era Needs to Be Verified

Research from e27, e27

Research from e27

e27 is Asia's largest Tech media platform. We cover the latest news on emerging and disruptive businesses across the region.

Private Capital Markets

<ul><li>Singapore-headquartered RNA technology company, Mirxes Holding, has completed its Series D funding round, securing US$50 million.</li><li>The round is anchored by existing and new investors, including Beijing Fupu, EDBI, Mitsui &amp; Co., NHH Venture Fund, and the Agency for Science, Technology and Research.</li><li>Mirxes Holding will use the capital to scale the adoption and penetration of its stomach cancer blood test, GASTROClear, in major Asia-Pacific markets, including Southeast Asia, China, and Japan.</li></ul>

Singapore-headquartered RNA technology company, Mirxes Holding, has completed its Series D funding round, securing US$50 million.The round is anchored by existing and new investors, including Beijing Fupu, EDBI, Mitsui &amp; Co., NHH Venture Fund, and the Agency for Science, Technology and Research.Mirxes Holding will use the capital to scale the adoption and penetration of its stomach cancer blood test, GASTROClear, in major Asia-Pacific markets, including Southeast Asia, China, and Japan.

Mirxes Lands US$50M to Take Its Cancer Early Detection Solutions to New Markets

Singapore

Mirxes Holding Company Limited offers investment holding services. The Company and its subsidiaries develop non-invasive blood-based miRNA test kit products for the early detection of cancer and other diseases. Mirxes Holding conducts business in Singapore, China, Japan, and the USA.

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Mirxes Holding (2629 HK)

Mirxes Pre-IPO: Early Signs of Commercialization Challenges

We look at fundamentals of Mirxes, including its key products, commercialization and shareholders, as it is planning to list in Hong Kong.

Ke Yan, CFA, FRM

Pre-IPO Mirxes Holding Company - The Profit Model in the Post Pandemic Era Needs to Be Verified

After the dividend period of COVID, the deterioration of Mirxes's financial position may not be easily reversed, with survival pressure. Challenges...

Xinyao (Criss) Wang

Mirxes Lands US$50M to Take Its Cancer Early Detection Solutions to New Markets

Mirxes will use the capital to scale the adoption and penetration of its stomach cancer blood test, GASTROClear, in major APAC markets

e27

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