Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<p>For our next Corporate Webinar, we are glad to welcome RemeGen's Chief Financial Officer, Mr. Tong Shaojing.</p>
<p>In the upcoming webinar, Tong will share a short company presentation after which, he will engage in a fireside chat with Smartkarma Insight Provider, <a href="https://www.smartkarma.com/profiles/eric-wen" target="_blank" data-smartkarma-citation="accounts:54017" rel="noopener">Eric Wen</a> . The Corporate Webinar will include a live Q&amp;A session.</p>
<h3>The Corporate Webinar will be hosted on Thursday, 19 September 2024, 09:00 SGT.</h3>
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<h2><a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=88131022121" target="_blank" rel="noopener">Register for the Webinar here</a></h2>
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<h3>About RemeGen</h3>
<p>RemeGen was cofounded in 2008 by Mr. Wang Weidong, founder of Rongchang Pharmaceuticals, a leading traditional Chinese medicine company in China and Dr. Fang Jianmin, a Canadian-American scientist. Headquartered in the coastal city of Yantai Shandong Province of China, RemeGen has research labs and offices throughout China and the United States. RemeGen is committed to the discovery, development, and commercialization of innovative and differentiated biologic drugs of significant clinical value in the key therapeutic areas of autoimmune oncology and ophthalmic diseases.</p>

For our next Corporate Webinar, we are glad to welcome RemeGen's Chief Financial Officer, Mr. Tong Shaojing.
In the upcoming webinar, Tong will share a short company presentation after which, he will engage in a fireside chat with Smartkarma Insight Provider, Eric Wen . The Corporate Webinar will include a live Q&amp;A session.
The Corporate Webinar will be hosted on Thursday, 19 September 2024, 09:00 SGT.












Register for the Webinar here












About RemeGen
RemeGen was cofounded in 2008 by Mr. Wang Weidong, founder of Rongchang Pharmaceuticals, a leading traditional Chinese medicine company in China and Dr. Fang Jianmin, a Canadian-American scientist. Headquartered in the coastal city of Yantai Shandong Province of China, RemeGen has research labs and offices throughout China and the United States. RemeGen is committed to the discovery, development, and commercialization of innovative and differentiated biologic drugs of significant clinical value in the key therapeutic areas of autoimmune oncology and ophthalmic diseases.

Smartkarma Corporate Webinar | RemeGen: An Undervalued, Leading Biotech From China

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>One “unique” feature of China's CXOs is that they like investment more than drug R&amp;D business, but the investment-driven model will result in "interest-to-conflict", which actually “crosses the line”.</li>
<li>RemeGen's shares plummet last week. In current situation of investors' lack of confidence/trust in RemeGen, stock price may not have hit bottom yet, so no need to rush to bottom-fish.</li>
<li>For Kelun Bio, if SKB264 fails to deliver good data, valuation would face the risk of pullback. After the lock-up expiry, there could be opportunity to buy at lower price.</li>
</ul>


One “unique” feature of China's CXOs is that they like investment more than drug R&amp;D business, but the investment-driven model will result in "interest-to-conflict", which actually “crosses the line”.
RemeGen's shares plummet last week. In current situation of investors' lack of confidence/trust in RemeGen, stock price may not have hit bottom yet, so no need to rush to bottom-fish.
For Kelun Bio, if SKB264 fails to deliver good data, valuation would face the risk of pullback. After the lock-up expiry, there could be opportunity to buy at lower price.


China Healthcare Weekly (July.14) - CXO's Disputed Business Model, Remegen Shares Plunged, Kelun Bio

Equity Capital Markets

Nanjing Leads Biolabs / Equity Capital Markets

<ul>
<li>After PD-1/L1, we haven’t seen the next successful/reliable immune checkpoint emerges due to issues on efficacy/safety profile. So, for 4-1BB/LAG3, we’re worried about the druggability or future commercialization after approval.</li>
<li>In Leads Biolabs' pipeline, we think the future highlight may still lie in CD3, since the mechanism by which TCR/CD3 is used to activate T cells is well validated.</li>
<li>After Series C+ Financing, the post investment valuation has exceeded RMB3 billion.If the pipeline development progresses smoothly, Leads Biolabs’ valuation would surpass peers in the future due to better outlook.</li>
</ul>


After PD-1/L1, we haven’t seen the next successful/reliable immune checkpoint emerges due to issues on efficacy/safety profile. So, for 4-1BB/LAG3, we’re worried about the druggability or future commercialization after approval.
In Leads Biolabs' pipeline, we think the future highlight may still lie in CD3, since the mechanism by which TCR/CD3 is used to activate T cells is well validated.
After Series C+ Financing, the post investment valuation has exceeded RMB3 billion.If the pipeline development progresses smoothly, Leads Biolabs’ valuation would surpass peers in the future due to better outlook.


Pre-IPO Nanjing Leads Biolabs - The Future Prospects of the Pipeline Are Worth Looking Forward To

China Resources Sanjiu Medical & Pharma / Equity Bottom-Up

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<li>If product sales cannot continue to climb rapidly and dilute the costs, the final profit will gradually fade away. Therefore, Chinese biotech companies need new blockbuster products to drive growth.</li>
<li>The decline in the number of biotech companies in the future is actually “a supply side reform” that fundamentally reduces market competition, which obviously benefit those first-tier companies.</li>
<li>The acquisition of Tasly by <a href="https://www.smartkarma.com/entities/china-resources-sanju-mdcl-phrm-co-ltd" target="_blank" data-smartkarma-citation="entities:6218:1" rel="noopener">China Resources Sanjiu Medical &amp; Pharma </a>is still in progress. The deal may not be completed until 25H1 if the approval time is not enough.</li>
</ul>


If product sales cannot continue to climb rapidly and dilute the costs, the final profit will gradually fade away. Therefore, Chinese biotech companies need new blockbuster products to drive growth.
The decline in the number of biotech companies in the future is actually “a supply side reform” that fundamentally reduces market competition, which obviously benefit those first-tier companies.
The acquisition of Tasly by China Resources Sanjiu Medical &amp; Pharma is still in progress. The deal may not be completed until 25H1 if the approval time is not enough.


China Healthcare Weekly (Feb.2)- Update on CR Sanjiu's Acquisition of Tasly, China Biotech's Outlook

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.

WuXi XDC Cayman  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd-bf4a1265-beef-48b6-b82d-29308426030f" target="_blank" data-smartkarma-citation="entities:27795:1" rel="noopener">WuXi AppTec (2359 HK)</a> aims to raise around US$150m via selling around 3% stake in <a href="https://www.smartkarma.com/entities/wuxi-xdc-cayman-inc" target="_blank" data-smartkarma-citation="entities:39917:1" rel="noopener">WuXi XDC Cayman (2268 HK)</a>.</li>
<li>WuXi XDC Cayman (WXDC) is a contract research, development, and manufacturing organization (CRDMO) focused on the global antibody drug conjugates (ADC) and broader bioconjugate market providing integrated and end-to-end services.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
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WuXi AppTec (2359 HK) aims to raise around US$150m via selling around 3% stake in WuXi XDC Cayman (2268 HK).
WuXi XDC Cayman (WXDC) is a contract research, development, and manufacturing organization (CRDMO) focused on the global antibody drug conjugates (ADC) and broader bioconjugate market providing integrated and end-to-end services.
In this note, we will talk about the placement and run the deal through our ECM framework.


Wuxi XDC Placement - A Repeat of Biologics Placement Saga, Last Deal Did Well

China

RemeGen Co., Ltd. operates biotechnology businesses. The Company develops therapeutic antibody drugs such as antibody drug conjugates (ADC), antibody fusion proteins, monoclonal antibodies and double antibodies. RemeGen provides solutions autoimmune diseases, tumor diseases, and ophthalmic diseases.

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Remegen (9995 HK)

Smartkarma Corporate Webinar | RemeGen: An Undervalued, Leading Biotech From China

RemeGen (9995 HK) is a leading biotech company committed to the discovery, development, and commercialization of innovative biologic drugs. Learn...

Smartkarma Research

China Healthcare Weekly (July.14) - CXO's Disputed Business Model, Remegen Shares Plunged, Kelun Bio

China CXOs prioritize investment over R&D, leading to potential conflicts of interest. Investors challenged RemeGen due to poor outlook. After...

Xinyao (Criss) Wang

Pre-IPO Nanjing Leads Biolabs - The Future Prospects of the Pipeline Are Worth Looking Forward To

Despite challenges with immune checkpoint therapies, Leads Biolabs sees potential in CD3 for future success. If R&D progresses smoothly, valuation...

Xinyao (Criss) Wang

China Healthcare Weekly (Feb.2)- Update on CR Sanjiu's Acquisition of Tasly, China Biotech's Outlook

Chinese biotech companies need to develop new blockbuster products to sustain growth. A "supply side reform” benefits first-tier Biotech. The...

Xinyao (Criss) Wang

Wuxi XDC Placement - A Repeat of Biologics Placement Saga, Last Deal Did Well

WuXi AppTec (2359 HK) aims to raise around US$150m via selling around 3% stake in WuXi XDC Cayman (2268 HK). It has sold earlier in Nov 24 as well.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Smartkarma Corporate Webinar | RemeGen: An Undervalued, Leading Biotech From China

RemeGen (9995 HK) is a leading biotech company committed to the discovery, development, and commercialization of innovative biologic drugs. Learn...

Smartkarma Research

China Healthcare Weekly (July.14) - CXO's Disputed Business Model, Remegen Shares Plunged, Kelun Bio

​China CXOs prioritize investment over R&D, leading to potential conflicts of interest. Investors challenged RemeGen due to poor outlook. After...

Xinyao (Criss) Wang

Pre-IPO Nanjing Leads Biolabs - The Future Prospects of the Pipeline Are Worth Looking Forward To

​Despite challenges with immune checkpoint therapies, Leads Biolabs sees potential in CD3 for future success. If R&D progresses smoothly, valuation...

Xinyao (Criss) Wang

China Healthcare Weekly (Feb.2)- Update on CR Sanjiu's Acquisition of Tasly, China Biotech's Outlook

​Chinese biotech companies need to develop new blockbuster products to sustain growth. A "supply side reform” benefits first-tier Biotech. The...

Xinyao (Criss) Wang

Wuxi XDC Placement - A Repeat of Biologics Placement Saga, Last Deal Did Well

WuXi AppTec (2359 HK) aims to raise around US$150m via selling around 3% stake in WuXi XDC Cayman (2268 HK). It has sold earlier in Nov 24 as well.

Sumeet Singh

China CXOs prioritize investment over R&D, leading to potential conflicts of interest. Investors challenged RemeGen due to poor outlook. After...

Despite challenges with immune checkpoint therapies, Leads Biolabs sees potential in CD3 for future success. If R&D progresses smoothly, valuation...

Chinese biotech companies need to develop new blockbuster products to sustain growth. A "supply side reform” benefits first-tier Biotech. The...