New stock news | Biopharmaceutical company Aikeshi filed for listing on the Hong Kong Stock Exchange for the third time and has developed a pipeline of six candidate drugs.

According to the disclosure on March 17 by the Hong Kong Stock Exchange, Shanghai Aik Bai Life Sciences Technology Co., Ltd. - B (referred to as Aik Bai Life Sciences) submitted its listing application to the main board of the Hong Kong Stock Exchange. CITIC SEC and J.P. Morgan are its joint sponsors. This is the company's third submission to the Hong Kong Stock Exchange. Company Profile According to the prospectus, the company is a biopharmaceutical company established in 2013, focusing on the discovery and development of therapies to address medical needs in respiratory and pediatric diseases. The company has developed a pipeline of six candidate drugs, including two core products: (i) Resivir, a respiratory syncytial virus (RSV) drug, which was originally licensed from Roche in January 2014, currently in the new drug application (NDA) review stage by the National Medical Products Administration (NMPA) for the treatment of RSV infection in infants aged 1 to 24 months; and (ii) AK3280, a drug for idiopathic pulmonary fibrosis (IPF) in the post-phase II proof-of-concept (PoC) clinical trial stage, originally licensed from Roche, Genentech, and Intermune in August 2018. The company may not be able to successfully develop and commercialize its pipeline products (including the core products Resivir and AK3280) and/or create significant economic value from them. As of the last feasible date (March 10, 2026), the company has developed a pipeline of six candidate drugs. Core Products Resivir for Treatment Resivir is a RSV treatment drug that targets the F protein of RSV, which is a key surface protein that mediates the virus's entry into host cells. Resivir is the world's most advanced and promising first-in-class RSV treatment candidate drug and may become the world's first RSV-specific antiviral drug to show a positive response in a pivotal phase III clinical trial. Given its clinical performance and safety profile, Resivir is the first non-oncology drug to receive breakthrough therapy designation from the NMPA. In August 2025, the company submitted an NDA application to the NMPA for Resivir for the treatment of RSV in infants aged 1 to 24 months. AK3280 The company has developed a post-phase II PoC stage IPF drug asset, AK3280. AK3280 modulates the expression of multiple fibrosis-related genes and proteins. Principal Product AK0901 In December 2021, the company obtained exclusive authorization from Commave for Azstarys (1)(AK0901) to develop and commercialize AK0901 in Greater China. The drug was approved by the FDA in March 2021 as a new generation of stimulant medication. Since obtaining the authorization for AK0901 from Commave, the company has completed phase I and phase III clinical trials in China involving 24 and 50 subjects, respectively. In December 2025, AK0901 was approved by the NMPA. In December 2025, the company entered into a commercialization agreement with Qilu Pharmaceutical Co., Ltd., a national pharmaceutical company in China, for the commercialization of AK0901 in mainland China (Qilu Agreement). Under the Qilu Agreement, the company granted Qilu Pharmaceutical an exclusive license to develop, manufacture, and commercialize AK0901 in mainland China. Under the agreement, the company may receive up to a maximum of RMB 110 million in research milestone payments upon achievement of NDA approval and technology transfer, up to a maximum of RMB 360 million in sales milestone payments upon achievement of specific annual sales targets, and tiered royalty fees based on annual net sales, ranging from 13% to 15% of net sales. After years of strategic investment and development, the company has built an integrated in-house research and development platform covering key aspects of drug discovery and development. With its strong research and development capabilities and integrated technology platform, the company has developed a pipeline of products with tremendous potential. All of the company's technology platforms are internally developed. The main technology platforms of the company include a pediatric drug development platform, an antiviral drug screening platform, a drug discovery and intelligent design platform, a drug formulation development platform, and a drug chemistry platform. Financial Information Revenue In 2024 and 2025, the company's other income and revenue were RMB 26.305 million and RMB 7.574 million, respectively. Research and Development In 2024 and 2025, the company's research and development costs were approximately RMB 165 million and RMB 153 million, respectively. Losses In 2024 and 2025, the company's total comprehensive losses for the year were approximately RMB 199 million and RMB 225 million, respectively. Industry Overview While there have been no approved treatments specifically targeting RSV infection in the past, Ribavirin, a broad-spectrum antiviral drug that is not specifically targeted at RSV, has been approved for RSV treatment. Due to concerns about its potential toxicity, limited and unpredictable efficacy, and associated inconvenience and high cost, the market for past RSV treatments has been relatively small. With the expected approval of treatments specifically targeting RSV infection, the global market for RSV treatment drugs is expected to grow significantly. The overall global market for RSV drugs (including treatment and prevention drugs) has been rapidly expanding in recent years. According to Zhi Shi Consulting reports, the RSV treatment drug market was only $30 million by the end of 2024 and is expected to reach $819 million by 2026. Subsequently, the market for RSV treatment drugs is expected to rapidly increase to $8.6 billion by 2035, with a compound annual growth rate of 67.1% from 2024 to 2035. In the United States, the RSV treatment drug market is expected to grow from $2.4 million in 2024 to $2.4 billion in 2030 and further increase to $3.7 billion in 2035, with a compound annual growth rate of 52.7% from 2024 to 2035. According to Zhi Shi Consulting reports, the global market for RSV prevention drugs (including RSV-targeted drugs, excluding RSV vaccines) reached approximately $2.7 billion by 2024. With the expected launch of new long-acting antibody drugs, the market is expected to maintain stable growth, reaching approximately $5.3 billion by 2035, with a compound annual growth rate of 6.3% from 2026 to 2035. The global market for RSV prevention drugs is mainly driven by prophylactic antibodies, which are currently well developed and expected to have stable growth over the next decade. In contrast, the market for RSV treatment drugs is still in its early stages, with a limited market share currently, but strong growth potential driven by the expected launch of directly acting antiviral drugs. While preventive drugs continue to dominate the RSV market, it is expected that treatment drugs will become an increasingly important growth driver in the future, bringing significant potential market opportunities. With the introduction of new RSV antiviral drugs with potentially better efficacy in China, the Chinese market for RSV treatment drugs is expected to grow significantly from RMB 43 million in 2024 to RMB 2 billion in 2030, further increasing to RMB 4.5 billion in 2035, with a compound annual growth rate of 52.7% from 2024 to 2035. Board of Directors Information The board of directors consists of nine directors, including two executive directors, four non-executive directors, and three independent non-executive directors. Ownership Structure As of the last feasible date, Dr. Wu, through his controlled entities ProfitsExcel, MillionJoy, and Aerkai, has the right to exercise approximately 25.13% of the company's voting rights. Intermediary Team Joint Sponsors: CITIC SEC (Hong Kong) Limited, J.P. Morgan Securities (Far East) Limited; Legal Counsel: Kirkland & Ellis LLP, Fangda Partners; Joint Sponsors and Compilers of Legal Counsel: Freshfields Bruckhaus Deringer, JunHe LLP; Auditors and Reporting Accountants: Ernst & Young; Industry Consultants: Zhi Shi Industry Consulting Co., Ltd.; Compliance Advisor: HubCapital Limited.