HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

Pre-IPO Sungrow Power Supply (A/H Listing) - About the Business and the Outlook

Pre-IPO Changzhou Xingyu Automotive Lighting Systems (A/H Listing) - The Business and the Outlook

Pre-IPO Zhejiang Shimai Pharmaceutical - It Might Never Be Possible to Make Money

Pre-IPO Shenzhen Mindray Bio-Medical Electronics (A/H Listing) - The Headwinds Still Exist

Pre-IPO Sirius Therapeutics - The Pipeline and the Concerns Behind

Equity Capital Markets

Chengdu Zenitar Biomedical Technology / Equity Capital Markets

Chengdu Zenitar Biomedical Technology (CZBT HK)

<ul>
<li>Unlike purely conceptual AI drug development platforms, Zenitar’s platforms have successfully produced candidates that have advanced to the later clinical stages, thereby validating the effectiveness of the closed-loop R&amp;D model.</li>
<li>The peak sales of FM in China could reach RMB1-2 billion. As a supplementary therapy targeting a specific subpopulation with differentiated safety advantages, PM’s market potential could be relatively limited. </li>
<li>The reasonable IPO valuation of Zenitar would be higher than these pure preclinical or early clinical companies, but lower than companies with mature commercial products or strong BD capabilities.</li>
</ul>


Unlike purely conceptual AI drug development platforms, Zenitar’s platforms have successfully produced candidates that have advanced to the later clinical stages, thereby validating the effectiveness of the closed-loop R&amp;D model.
The peak sales of FM in China could reach RMB1-2 billion. As a supplementary therapy targeting a specific subpopulation with differentiated safety advantages, PM’s market potential could be relatively limited. 
The reasonable IPO valuation of Zenitar would be higher than these pure preclinical or early clinical companies, but lower than companies with mature commercial products or strong BD capabilities.


Suzhou Zelgen Biopharmaceutica (688266 CH)

Pre-IPO Chengdu Zenitar Biomedical Technology - About the Pipeline and the Concerns Behind