HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

TenNor Therapeutics (Suzhou) Limited / Equity Capital Markets

<ul>
<li>China has vigorously restricted the use of antibiotics. Even for novel antibiotics, they won’t replace old antibiotics completely considering higher price/the difficulty of changing prescription habits of existing clinical guidelines.</li>
<li>The NMPA's approval standards for new antibiotics are becoming increasingly strict. So, regulatory agencies' evaluation of the true efficacy of TNP-2198 may lead to the delay in its market launch. </li>
<li>Post-Money valuation after Series E financing reached RMB2 billion. Valuation of TenNor could be lower than peers Zai Lab and Everest Medicines who already have commercialized products on the market.</li>
</ul>


China has vigorously restricted the use of antibiotics. Even for novel antibiotics, they won’t replace old antibiotics completely considering higher price/the difficulty of changing prescription habits of existing clinical guidelines.
The NMPA's approval standards for new antibiotics are becoming increasingly strict. So, regulatory agencies' evaluation of the true efficacy of TNP-2198 may lead to the delay in its market launch. 
Post-Money valuation after Series E financing reached RMB2 billion. Valuation of TenNor could be lower than peers Zai Lab and Everest Medicines who already have commercialized products on the market.


Pre-IPO TenNor Therapeutics (Suzhou) Limited - The Pipelines and the Concerns

Hong Kong

Clinical-stage biotechnology company dedicated to discovery and development of therapeutics in infectious diseases.

TenNor Therapeutics (Suzhou) Limited (TEN123 HK)

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Pre-IPO TenNor Therapeutics (Suzhou) Limited - The Pipelines and the Concerns

China has vigorously restricted the use of antibiotics.TenNor's product won’t replace old ones completely due to higher price/difficulty of...

Xinyao (Criss) Wang