New stock news | ArcherDX files for listing on Hong Kong Stock Exchange as a leading early cancer detection company

According to the disclosure by the Hong Kong Stock Exchange on September 28, Wuhan Ameson Life Science and Technology Co., Ltd. (referred to as Ameson) has submitted an application for listing on the main board of the Hong Kong Stock Exchange. The joint sponsors are CCB International and BOCOM INTL. The prospectus shows that Ameson is a leading early cancer detection company, strategically focusing on high incidence and high mortality cancers. The company has pioneered early cancer detection technology based on methylation. It has two core products, namely Aixin Gan for liver cancer and Aiguangle for urinary tract epithelial cancer. Aixin Gan is the world's first liver cancer detection reagent based on methylation technology, using real-time quantitative polymerase chain reaction (qPCR) technology. It has a sensitivity of 92.33% and specificity of 93.35% in detecting liver cancer through blood samples, with a sensitivity of up to 84.43% in stage I patients. The other core product, Aiguangle, requires only 1 ml of urine sample for non-invasive detection of urinary tract epithelial cancer, significantly improving efficiency and convenience compared to traditional methods. The company is deeply involved in the rapidly growing tumor molecular detection market in China. According to Frost & Sullivan, by 2024, China ranks fourth in the incidence of liver cancer, second in cancer-related mortality, and urinary tract epithelial cancer has a high recurrence rate. Early screening for these cancers can significantly improve survival rates and reduce medical costs related to late-stage treatment. Although tumor molecular detection in China is still in its early stages with low penetration, according to Frost & Sullivan, the field is rapidly developing. The size of the tumor molecular detection market in China has grown from RMB 4.3 billion in 2019 to RMB 8.7 billion in 2024, with a compound annual growth rate of 15.2%. It is expected to reach RMB 38.8 billion by 2033, with a compound annual growth rate of 18.1% from 2024 to 2033. To seize this market opportunity and respond to China's unmet needs for early cancer detection, the company has developed a comprehensive early cancer detection platform with multiple competitive advantages. The platform has a rich product pipeline, covering a wide range of cancer types including colorectal, liver, and esophageal cancer, with approved and under development products in full spectrum product combinations. It is further expanding into areas such as urinary tract epithelial cancer, gastric cancer, lung cancer, and gynecological cancer in response to unmet clinical needs. The company is also actively expanding its pan-cancer detection product pipeline, currently developing a five-digestive system cancer combined detection reagent, a six-high-incidence cancer combination detection reagent, and a twelve-cancer combination detection reagent. The company uses cost-effective qPCR technology supported by the proprietary intelligent tumor biomarker search platform developed based on a large amount of cancer patient data (iTBFinder), as well as innovative technologies such as amplification selective capture (AS-Cap) and sensitivity-enhanced methylation PCR technology (SEM-PCR) to significantly enhance detection capabilities. The experienced R&D team of the company has established an efficient R&D process, significantly shortening the product development cycle to about four and a half years, building high barriers to entry. The company's technological advantages rely on its strong commercial infrastructure and extensive sales and distribution network, covering medical testing laboratories, private health check centers, and downstream customers including public hospitals and grassroots medical institutions through distributors. In addition, to address the key challenge of large-scale downstream applications, the company is developing the fully automated sample processing workstation AMStation, which can process up to 60 stool samples for pretreatment in about three hours and extract and convert 16 nucleic acid samples, simplifying the operation process and supporting large-scale testing. The company expects AMStation to complete EMC testing and safety compliance testing by early 2026 and submit a Class I medical device registration application to the Hubei Wuhan Market Supervision Administration. It is worth noting that the company may not ultimately succeed in developing and promoting new indications for Aixin Gan, or in developing and promoting Aiguangle, or in ultimately developing and promoting any or all candidate products. Financially, for the fiscal years ending June 30, 2023, 2024, and the six months ended June 30, 2025, Ameson achieved revenues of RMB 6.233 million, RMB 7.238 million, and RMB 6.513 million respectively; with net losses of RMB 67.922 million, RMB 38.63 million, and RMB 13.906 million respectively.