Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Asia Pac IPO & Placement Research, China biotech

Brii Biosciences (腾盛博药) IPO Trading: Note the Pre-IPO Investors Subscription

Brii Biosciences (腾盛博药) Pre-IPO: Thoughts on Valuation

Brii Biosciences (腾盛博药) Pre-IPO: A Hopeful Tackle on HBV

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

Brii Biosciences / Equity Capital Markets

Brii Biosciences is a leading biotech company with focus on infectious disease.The company launched book building to raise up to USD 320m via a Hong Kong listing.In our previous note, we discussed that Brii Biosciences is an interesting company with the potential to provide breakthrough therapy for HBV in China which will have a huge demand if the efficacy can be demonstrated, though the path of clinical trial is a bit complicated and lengthy. There is no effective therapeutic option for HBV at the moment and China's HBV patients account for one third of the HBV population in the world.  The company uses the siRNA technology that silences the protein synthesis for the HBV and hence reduces the antigents and presence of the virus in human bodies. RNA-related technology was studied for more than 20 year and only gained attraction in terms of regulatory approval in recent years. With the early reading from the company and its licensing partners, we think drug candidates BRII-179 and BRII-835 are promising. The company also has a strong management team and investor backing.In this note, we provide an update for the book building. We think the valuation of the deal is not demanding with upside for investors.

Brii Biosciences is a leading biotech company with focus on infectious disease.The company launched book building to raise up to USD 320m via a Hong Kong listing.In our previous note, we discussed that Brii Biosciences is an interesting company with the potential to provide breakthrough therapy for HBV in China which will have a huge demand if the efficacy can be demonstrated, though the path of clinical trial is a bit complicated and lengthy. There is no effective therapeutic option for HBV at the moment and China's HBV patients account for one third of the HBV population in the world.  The company uses the siRNA technology that silences the protein synthesis for the HBV and hence reduces the antigents and presence of the virus in human bodies. RNA-related technology was studied for more than 20 year and only gained attraction in terms of regulatory approval in recent years. With the early reading from the company and its licensing partners, we think drug candidates BRII-179 and BRII-835 are promising. The company also has a strong management team and investor backing.In this note, we provide an update for the book building. We think the valuation of the deal is not demanding with upside for investors.

Brii Biosciences (腾盛博药) IPO: Not a Demanding Valuation for Its Differentiation