Daily Brief Health Care: WeiMai, Longeveron , Narayana Hrudayalaya Ltd, Actinogen Medical, Earth Science Tech and more

• WeiMai Inc. (WM) is looking to raise about US$100m in its upcoming Hong Kong IPO. The deal will be run by DB and CMS.
• WM is China’s top three whole-course healthcare management service provider and the largest patient-focused AI-empowered whole-course healthcare management service provider in China in terms of 2024 revenue.
• As of the Latest Practicable Date, WM partnered with 157 hospitals, where it had dedicated healthcare management team and medical team onsite in WeiMai exclusive in-hospital healthcare management centers.

• Longeveron is focusing on using its primary treatment, Lomecel-B, to fight a rare pediatric heart birth defect that devastates families but continues to receive good FDA news regarding its treatment for Alzheimer’s Disease.
• The company announced that its primary drug, laromestrocel, has been approved for a Phase 2 trial for the treatment of Pediatric Dilated Cardiomyopathy.
• This expands the potential market for treatment and provides hope for thousands of patients.

• Narayana Hrudayalaya Ltd (NARH IN) reported revenue growth of 12% over the last two years, which is on the lower side compared to the peers.
• Capacity constraint is the major setback. Until the company adds new greenfield capacity, there will be no significant change in volume. Near-term growth expectation is subdued.
• Compared to peers, NHL is a late mover in capacity expansion. Significant greenfield expansion is scheduled to complete in FY28, through which nearly 1,100 beds will be added.

Actinogen Medical announced on 30 June that it has recruited the 100th patient for its ongoing XanaMIA Phase IIb/III study assessing lead candidate Xanamem (emestedastat) in patients with biomarker-positive Alzheimer’s disease (AD). The company is on track to report a pre-planned interim efficacy (futility) analysis in early Q126, which, if successful, should strengthen confidence in the AD programme. After rolling forward our estimates, we obtain a total equity valuation of A$724.6m (versus A$673.8m previously).

• Earth Science Tech, Inc. (ETST) is a strategic holding company, with wholly-owned subsidiaries operating in the compounding pharmaceutical (RxCompoundStore.com, MisterMeds.com), telehealth (Peaks Curative, Las Villas Health Care, DOConsultations.com), real estate (Avenvi), and consumer products (Magnefuse) sectors.
• Senior executives remain focused on managing and optimizing company operations, as well as acquiring complementary assets.
• The firm was incorporated in 2010, with headquarters in Miami, Florida.