HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

1. Industry viewpoints:<ul>
<li>The official document about the 4th volume-based purchase (VBP) was issued to clarify the relevant varieties and rules, and the bidding will start on February 3rd, 2021.</li>
<li>Biobanks and vaccines are the main driving force for the overall cryogenic storage market to continue to grow at a high rate in the future.</li>
<li>Currently, the “AI + medical” industry is in a period of rapid growth.</li>
</ul>2. Company news:News about the progress of innovative medical device, new drugs and new licensing agreement from <a href="https://www.smartkarma.com/entities/venus-medtech-hangzhou-inc" target="_blank" data-smartkarma-citation="entities:28257:1" rel="noopener">Venus MedTech (2500 HK)</a>, <a href="https://www.smartkarma.com/entities/gracell-biotechnologies-inc" target="_blank" data-smartkarma-citation="entities:31108:1" rel="noopener">Gracell Biotechnologies Inc (GRCL US)</a>, <a href="https://www.smartkarma.com/entities/innovent-biologics-inc" target="_blank" data-smartkarma-citation="entities:27452:1" rel="noopener">Innovent Biologics Inc (1801 HK)</a>, and <a href="https://www.smartkarma.com/entities/alphamab-oncology" target="_blank" data-smartkarma-citation="entities:28213:1" rel="noopener">Alphamab Co Ltd (9966 HK)</a>.3. Market review: Last week, stock price for healthcare sector in A share increased 7.79%, while CSI 300 increased 2.05% over the same period of time.4. Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

1. Industry viewpoints:
The official document about the 4th volume-based purchase (VBP) was issued to clarify the relevant varieties and rules, and the bidding will start on February 3rd, 2021.
Biobanks and vaccines are the main driving force for the overall cryogenic storage market to continue to grow at a high rate in the future.
Currently, the “AI + medical” industry is in a period of rapid growth.
2. Company news:News about the progress of innovative medical device, new drugs and new licensing agreement from Venus MedTech (2500 HK), Gracell Biotechnologies Inc (GRCL US), Innovent Biologics Inc (1801 HK), and Alphamab Co Ltd (9966 HK).3. Market review: Last week, stock price for healthcare sector in A share increased 7.79%, while CSI 300 increased 2.05% over the same period of time.4. Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

New Horizon Health  / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/new-horizon-health-limited" target="_blank" data-smartkarma-citation="entities:31039:1" rel="noopener">New Horizon Health (NHH HK)</a> , the pioneer in China’s colorectal cancer screening market has filed for an IPO on the Hong Kong Stock Exchange and according to Bloomberg, the company plans to raise about US$300m through the IPO.The company is a commercial stage biotech company with two proprietary cancer screening products, ColoClear and Pupu Tube developed for screening colorectal cancer.ColoClear is the first and only molecular cancer screening test approved by NMPA, and as of the latest practicable date, there was no other colorectal cancer screening candidate in the market or carried out prospective clinical trial in China.China has the highest colorectal cancer incidence in the world thus presenting huge market opportunity for screening tests. If detected early, colorectal cancer is one of the most curable and preventable cancers which creates huge demand for colorectal cancer screening tests.In addition to the company’s two core proprietary screening tests, there are two other screening product candidates that are in the development pipeline.

New Horizon Health (NHH HK) , the pioneer in China’s colorectal cancer screening market has filed for an IPO on the Hong Kong Stock Exchange and according to Bloomberg, the company plans to raise about US$300m through the IPO.The company is a commercial stage biotech company with two proprietary cancer screening products, ColoClear and Pupu Tube developed for screening colorectal cancer.ColoClear is the first and only molecular cancer screening test approved by NMPA, and as of the latest practicable date, there was no other colorectal cancer screening candidate in the market or carried out prospective clinical trial in China.China has the highest colorectal cancer incidence in the world thus presenting huge market opportunity for screening tests. If detected early, colorectal cancer is one of the most curable and preventable cancers which creates huge demand for colorectal cancer screening tests.In addition to the company’s two core proprietary screening tests, there are two other screening product candidates that are in the development pipeline.

New Horizon Health IPO: Aiming to Become Pioneer in Cancer Screening

Gracell Biotechnologies Inc / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/gracell-biotechnologies-inc" target="_blank" data-smartkarma-citation="entities:31108:1" rel="noopener">Gracell Biotechnologies Inc (GRCL US)</a>, a global clinical-stage biopharmaceutical company dedicated to discovering and developing breakthrough cell therapies, was listed on Nasdaq. On its first day of trading, Gracell's shares jumped by about 32%, with a market value of $1.643 billion. Since the establishment, Gracell has had a clear listing schedule and plans to go public in early 2021. Gracell chooses to list on NASDAQ mainly because it believes that international capital market would be more suitable for the Company's development, which is conducive to future cooperation with American research institutes and enterprises, license-in or acquisition. It is also worth mention that although there are many pharmaceutical companies in the CAR-T field, the limitations of the therapies are still very prominent. So how is Gracell different from others? Could it become a game changer?

Gracell Biotechnologies Inc (GRCL US), a global clinical-stage biopharmaceutical company dedicated to discovering and developing breakthrough cell therapies, was listed on Nasdaq. On its first day of trading, Gracell's shares jumped by about 32%, with a market value of $1.643 billion. Since the establishment, Gracell has had a clear listing schedule and plans to go public in early 2021. Gracell chooses to list on NASDAQ mainly because it believes that international capital market would be more suitable for the Company's development, which is conducive to future cooperation with American research institutes and enterprises, license-in or acquisition. It is also worth mention that although there are many pharmaceutical companies in the CAR-T field, the limitations of the therapies are still very prominent. So how is Gracell different from others? Could it become a game changer?

Gracell Biotechnologies (GRCL.US) - Could It Become a Game Changer?

<a href="https://www.smartkarma.com/entities/gracell-biotechnologies-inc" target="_blank" data-smartkarma-citation="entities:31108:1" rel="noopener">Gracell Biotechnologies Inc (GRCL US)</a>  is a global clinical-stage biopharmaceutical company dedicated to discovering and developing breakthrough cell therapies to address major industry challenges and fulfil unmet medical needs in the treatment of cancer.The company has filed for an IPO to list its shares in the US and plans to raise around US$150m at the midpoint of the IPO price range of US$16-18 per ADS.The company has built two proprietary technology platforms FasTCAR and TruUCAR that disrupts conventional CAR-T cell therapies. Gracell’s lead FasTCAR autologous candidate, GC012F, is being developed for the treatment of patients with multiple myeloma and is being studied in Phase 1 trial in China.The company has two GMP-compliant manufacturing facilities in China that enable to be self-sufficient in the production of CAR-T cells for clinical development and early-stage commercialization.Gracell Biotechnologies currently does not have any products approved for commercial sale; hence the company does not generate any revenues from product sales. However, the company’s drug development pipeline includes a few strong candidates that shows good potential.

Gracell Biotechnologies Inc (GRCL US)  is a global clinical-stage biopharmaceutical company dedicated to discovering and developing breakthrough cell therapies to address major industry challenges and fulfil unmet medical needs in the treatment of cancer.The company has filed for an IPO to list its shares in the US and plans to raise around US$150m at the midpoint of the IPO price range of US$16-18 per ADS.The company has built two proprietary technology platforms FasTCAR and TruUCAR that disrupts conventional CAR-T cell therapies. Gracell’s lead FasTCAR autologous candidate, GC012F, is being developed for the treatment of patients with multiple myeloma and is being studied in Phase 1 trial in China.The company has two GMP-compliant manufacturing facilities in China that enable to be self-sufficient in the production of CAR-T cells for clinical development and early-stage commercialization.Gracell Biotechnologies currently does not have any products approved for commercial sale; hence the company does not generate any revenues from product sales. However, the company’s drug development pipeline includes a few strong candidates that shows good potential.

Gracell Biotechnologies IPO: Promising Early Trial Results but Nowhere Close to Commercialisation

United States

Gracell Biotechnologies Inc. operates as a clinical-stage biopharmaceutical company. The Company focuses on discovering and developing cell therapies to address medical needs in the treatment of cancer. Gracell Biotechnologies aims to disrupt conventional approaches to CAR-T cell therapies with technology platforms-FasTCAR and TruUCAR.

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Gracell Biotechnologies Inc (GRCL US)

China Healthcare Weekly (Jan.22)

The article analyzed the new official document for the volume-based purchase,industry viewpoints on China cryogenic storage market and “AI +...

Xinyao (Criss) Wang

New Horizon Health IPO: Aiming to Become Pioneer in Cancer Screening

New Horizon Health, the pioneer in China’s colorectal cancer screening market has filed for an IPO on the Hong Kong Stock Exchange and the company...

Shifara Samsudeen, ACMA, CGMA

Gracell Biotechnologies (GRCL.US) - Could It Become a Game Changer?

This article analyzed Gracell Biotechnologies in terms of market potential, its unique technology and platforms, products in the pipeline, and also...

Xinyao (Criss) Wang

Gracell Biotechnologies IPO: Promising Early Trial Results but Nowhere Close to Commercialisation

Gracell Biotechnologies is a clinical-stage biopharmaceutical company dedicated to developing breakthrough cell therapies for treating cancer. In...

Shifara Samsudeen, ACMA, CGMA

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