New stock news | Bei Hui Biotechnology once again submits an application to the Hong Kong Stock Exchange, as a biotechnology company focused on oncolytic virus therapy based in China.

According to the disclosure made by the Hong Kong Stock Exchange on April 2nd, Wuhan Binjiang Biotechnology Co., Ltd. - B (referred to as Binjiang Biotech) has once again submitted its listing application to the main board of the Hong Kong Stock Exchange. Huatai International, Zhaoyin International, and China International are its joint sponsors. Company Introduction The prospectus shows that the company was registered and established in 2010 and is a China-based oncolytic virus therapy biotechnology company dedicated to the discovery, development, and commercialization of cancer immunotherapy. The company has internally developed the core product BS001 (OH2 injection) and two key products. As of the last practicable date (March 27, 2026), the company's pipeline includes two clinical stage candidates (BS001 and BS006) and two preclinical stage candidates (BR003 and BS051). The company's core product BS001 is a novel oncolytic virus candidate drug based on herpes simplex virus type II (HSV-2). It is designed to selectively replicate in tumor cells, triggering direct oncolysis and secreting human granulocyte-macrophage colony-stimulating factor (hGM-CSF) to induce systemic immune activation. BS001 has obtained IND approval from the National Medical Products Administration and the FDA for the treatment of advanced solid tumors. Within this extensive IND scope, the company is developing BS001 as a monotherapy and in combination with other drugs, especially programmed cell death protein 1 (PD-1) inhibitors, targeting selected solid tumor types, including melanoma, colorectal cancer, glioblastoma, soft tissue sarcoma, and biliary tract cancer. In line with industry practice, the company's current clinical work mainly focuses on later-line treatments, including third-line or above unresectable or metastatic melanoma, second-line or above unresectable or recurrent/metastatic colorectal cancer, first-line or above recurrent glioblastoma, second-line or above unresectable or recurrent/metastatic soft tissue sarcoma, and second-line or above unresectable or recurrent/metastatic biliary tract cancer. The clinical data has demonstrated good safety and preliminary efficacy. With the accumulation of clinical evidence, the company intends to advance towards frontline treatments. As the world's first oncolytic virus candidate drug based on HSV-2 to enter clinical stages and advance to pivotal Phase III trials, the company's BS001 has the potential to become the world's first approved HSV-2-based oncolytic virus therapy. The company has established a pipeline covering three major strategic series: oncolytic viruses, nucleic acid therapies, and protein biopharmaceuticals, each driven by proprietary platform technologies. By integrating the company's platform capabilities, the company can accelerate development timelines, reduce risks, and maximize the therapeutic potential of its product combinations. The company's oncolytic virus series features the company's core product BS001 and key product BS006. BS001 is an oncolytic virus candidate drug with HSV-2 as the virus backbone, characterized by good safety, broad therapeutic potential, and unique combination benefits. BS006 is a new generation oncolytic virus candidate drug with HSV-2 as the virus backbone, incorporating three synergistic anti-tumor mechanisms, including directly lysing tumor cells to alter the tumor microenvironment, locally expressing programmed cell death ligand 1 (PD-L1)/cluster of differentiation 3 (CD3) dual-specific T cell engager (TCE) to activate and redirect T cells, and concurrently blocking PD-L1 signaling. The company's advanced product combinations drive the development of cocktail therapy, utilizing different oncolytic viruses carrying unique therapeutic nucleic acid sequences to broaden anti-tumor activity and provide lasting clinical benefits. Core Product - BS001 (OH2 Injection) BS001 is the company's exclusively developed recombinant oncolytic herpes simplex virus type II (OH2) therapeutic injection (Vero cells) for the treatment of advanced solid tumors. It is the world's first oncolytic virus candidate drug based on HSV-2 to reach clinical stages and enter pivotal Phase III trials, with the potential to become the world's first approved HSV-2-based oncolytic virus therapy. Key Product - BS006 (oHSV2-PD-L1/CD3-BsAb) BS006 is an innovative new generation oncolytic virus candidate drug with HSV-2 as the virus backbone, engineered to locally express PD-L1/CD3 dual-specific TCE at the tumor site to redirect and activate T cells, while blocking checkpoint signaling, providing three synergistic anti-tumor mechanisms. This product is specifically designed for the treatment of advanced/metastatic solid tumors, including but not limited to lung cancer, melanoma, liver cancer, pancreatic cancer, and colorectal cancer. BS006 has obtained IND approvals from the FDA in November 2022 and the National Medical Products Administration in August 2025. The company is currently conducting Phase I trials of this candidate product in the United States for the treatment of advanced or metastatic solid tumors. The company also plans to initiate Phase I clinical trials in China in the second quarter of 2026. Financial Information Revenue In 2024 and 2025, the company's revenue was RMB 1.725 million and RMB 884,000, respectively. Loss In 2024 and 2025, the company's annual losses were approximately RMB 113 million and RMB 121 million, respectively. Research and Development In 2024 and 2025, the company's research and development expenses were approximately RMB 103 million and RMB 84.301 million, respectively. Industry Overview Driven by the unique mechanism of oncolytic viruses in cancer immunotherapy and the expanding clinical indications, the global oncolytic virus market has achieved strong growth in recent years. With the increasing research and development investment by domestic enterprises, a continued increase in the number of clinical trial approvals, favorable policy support for innovative biopharmaceuticals, and a clearer path to commercialization, the Chinese oncolytic virus market is transitioning from its nascent stage to a period of rapid growth. The global burden of cancer continues to increase, placing long-term pressure on healthcare systems and highlighting the persistent unmet needs. The global cancer incidence increased from 19.3 million cases in 2020 to 21.3 million cases in 2024, with a compound annual growth rate of 2.5%, and is expected to reach 24.5 million cases by 2030, with a compound annual growth rate of 2.3%. In China, new cases of cancer increased from 4.6 million in 2020 to 5 million in 2024, with a compound annual growth rate of 2.2%, and are expected to reach 5.6 million by 2030, with a compound annual growth rate of 1.9%. The growing patient population, along with improvements in diagnosis and treatment pathways, continue to drive the stable expansion of the market. The global cancer drug market increased from $150.3 billion in 2020 to $253.3 billion in 2024, with a compound annual growth rate of 13.9%, and is expected to reach $452.5 billion by 2030, with a compound annual growth rate of 10.2%. The Chinese market is growing even faster, increasing from RMB 197.5 billion in 2020 to RMB 258.2 billion in 2024, with a compound annual growth rate of 6.9%, and is expected to reach RMB 527.3 billion by 2030, with a compound annual growth rate of 12.6%. In this context, oncolytic viruses are emerging as a differentiated treatment modality. Its application range has expanded from superficial tumors to deeper, more complex solid tumors, and treatment strategies are evolving towards systemic and personalized directions. Clinical studies have shown the effectiveness of this therapy for melanoma, colorectal cancer, glioblastoma, soft tissue sarcoma, and cholangiocarcinoma, with over 150 ongoing trials worldwide reflecting the growing interest and future potential of this therapy. Board of Directors Information Upon compilation, the Board of Directors will consist of seven directors, including three executive directors, one non-executive director, and three independent non-executive directors. Shareholding Structure Upon compilation, Dr. Liu, Wuhan Binjiang, Wuhan Rui, and Wuhan Yanming will constitute the company's largest shareholder group. Intermediate Team Joint Sponsors: Huatai Financial Holdings (Hong Kong) Limited, Zhaoyin International Financing Limited, China International Asia Limited; Legal Advisors: King & Wood Mallesons, Zhong Lun Law Firm; Joint Sponsors and Legal Advisors for Compilation: Jia Yuan Law Firm, Tongshang Law Firm; Reporting Accountants and Independent Auditors: Ernst & Young Hua Ming; Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch; Property Valuers: Knight Frank & Rutley Limited; Compliance Advisors: Hongbo Capital Limited.