In today’s briefing:
- Cloudbreak Pharma (拨康视云) Pre-IPO: Old Drug, New Formulation
- Alteogen (196170 KS): First Proprietary Product Approval in Korea To Improve Revenue Visibility
Cloudbreak Pharma (拨康视云) Pre-IPO: Old Drug, New Formulation
- Cloudbreak Pharma, a China-based clinical-stage biotechnology company, plans to raise up to US$200m via a Hong Kong listing.
- In this note, we examine the company’s core products, namely CBT-001 and CBT-009, for pterygium and juvenile myopia respectively.
- We are seeing a lack of convincing sustainable innovation from the company. Pre-IPO investors and management are mediocre.
Alteogen (196170 KS): First Proprietary Product Approval in Korea To Improve Revenue Visibility
- Alteogen Inc (196170 KS)‘s first proprietary recombinant human hyaluronidase liquid product, Tergase (ALT-BB4) is currently under approval process in Korea and is expected to receive approval in early 2024.
- Tergase is a stand-alone hyaluronidase product that can be used for the treatment of various medical conditions, such as pain relief, edema treatment, and hyaluronic acid filler removal.
- Compared to commercially available animal-derived hyaluronidase products in the market, Tergase is a highly purified product of high-quality with very few impurities and an excellent side effect profile.
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