HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

ImmuneOnco Biopharmaceuticals (Shanghai) / Equity Capital Markets

<ul>
<li>ImmuneOnco’s execution/R&amp;D efficiency is far from satisfactory. After about seven years since the establishment in 2015, there are no candidates entering phase III trials or close to market launch.</li>
<li>The biggest concerns are druggability and safety profile of CD47-targeted candidates. There could be potential R&amp;D failure risks. The pipeline layout around CD47 also makes it hard to diversify risks.</li>
<li>It’s challenging for <a href="https://www.smartkarma.com/entities/immuneonco-biopharmaceuticals-shanghai-inc" target="_blank" data-smartkarma-citation="entities:36080:1" rel="noopener">ImmuneOnco Biopharmaceuticals (Shanghai) (IOB HK)</a> to hit high-quality license-out deals with reputable big pharma, leading to uncertainties on internationalization. We're conservative about the outlook. </li>
</ul>


ImmuneOnco’s execution/R&amp;D efficiency is far from satisfactory. After about seven years since the establishment in 2015, there are no candidates entering phase III trials or close to market launch.
The biggest concerns are druggability and safety profile of CD47-targeted candidates. There could be potential R&amp;D failure risks. The pipeline layout around CD47 also makes it hard to diversify risks.
It’s challenging for ImmuneOnco Biopharmaceuticals (Shanghai) (IOB HK) to hit high-quality license-out deals with reputable big pharma, leading to uncertainties on internationalization. We're conservative about the outlook. 


Pre-IPO ImmuneOnco Biopharmaceuticals (PHIP Updates) - Slow Development Progress and Gloomy Outlook

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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

<ul>
<li>ImmuneOnco, a China-based clinical-stage biotechnology company, plans to raise up to US$ 100m via a Hong Kong listing.</li>
<li>In this note, we examine the company's core product, namelyIMM01, a CD47 target fusion protein. We also look at the company's management and pre-IPO investors.</li>
<li>We think its clinical data is not yet convincing and we are not so keen on the company.</li>
</ul>


ImmuneOnco, a China-based clinical-stage biotechnology company, plans to raise up to US$ 100m via a Hong Kong listing.
In this note, we examine the company's core product, namelyIMM01, a CD47 target fusion protein. We also look at the company's management and pre-IPO investors.
We think its clinical data is not yet convincing and we are not so keen on the company.


ImmuneOnco (宜明昂科) Pre-IPO: Clinical Numbers Are yet to Be Convincing

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/immuneonco-biopharmaceuticals-shanghai-inc" target="_blank" data-smartkarma-citation="entities:36080:1" rel="noopener">ImmuneOnco Biopharmaceuticals (Shanghai) (IOB HK)</a> has a differentiated next-generation immuno-oncology pipeline targeting a wide range of solid and hematologic tumors to address critical unmet medical needs.</li>
<li>The company's lead candidate IMM01 is being developed for the treatment of various hematologic malignancies and solid tumors as monotherapy and in combination with other agents.</li>
<li>The company has already undertaken a series of fund raising. Its current cash position can fund its operating expenses for more than two years, without the IPO proceeds.</li>
</ul>



ImmuneOnco Biopharmaceuticals (Shanghai) (IOB HK) has a differentiated next-generation immuno-oncology pipeline targeting a wide range of solid and hematologic tumors to address critical unmet medical needs.
The company's lead candidate IMM01 is being developed for the treatment of various hematologic malignancies and solid tumors as monotherapy and in combination with other agents.
The company has already undertaken a series of fund raising. Its current cash position can fund its operating expenses for more than two years, without the IPO proceeds.


ImmuneOnco Biopharmaceuticals (IOB HK) Pre-IPO: A Potentially Differentiated Oncology Portfolio

China

ImmuneOnco Biopharmaceuticals (Shanghai) (IOB HK)

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ImmuneOnco Biopharmaceuticals (Shanghai) (IOB HK)

Pre-IPO ImmuneOnco Biopharmaceuticals (PHIP Updates) - Slow Development Progress and Gloomy Outlook

ImmuneOnco's business model is self-development, leading to slow progress. Druggability/safety profile of CD47-targeted molecules are the biggest...

Xinyao (Criss) Wang

ImmuneOnco (宜明昂科) Pre-IPO: Clinical Numbers Are yet to Be Convincing

We look at ImmuneOnco, a biotech company seeking a listing in Hong Kong. The company is focused on CD47 products. Given the clinical data presented...

Ke Yan, CFA, FRM

ImmuneOnco Biopharmaceuticals (IOB HK) Pre-IPO: A Potentially Differentiated Oncology Portfolio

The company intends to list its shares on HK stock exchange. Investors, with high-risk appetite can consider this IPO for long-term investment due...

Tina Banerjee

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