"SPAC mode" cited the CSRC's high attention!

On October 11, Clover Biopharmaceuticals passed the Hong Kong Stock Exchange listing hearing and started the pre-marketing roadshow

As of now, 23 medical and health companies have been listed in Hong Kong this year, including 12 unprofitable biotech companies; another 6 have passed the Hong Kong Stock Exchange hearing, including 5 unprofitable biotech companies

This shows that biopharmaceutical companies are gaining momentum in listing in Hong Kong

The attitude of the senior officials of the China Securities Regulatory Commission towards the SPAC model has attracted the attention of biomedical companies

Reinforced R&D urgently needs financing to "fill blood"

From an industrial perspective, this demand exists objectively

  And SPAC is actually a "cash shell company"

  According to reports, at least dozens of biomedical unicorns or quasi-unicorn companies are interested in the listing of SPACs

  In the short term, in order to solve the pressure of survival, innovative enterprises also need funds to introduce new products

  In addition to corporate demands, the policy level is also changing

Many companies have been rejected for IPO, high-quality innovation is the "sweet bun"

  In addition to regulatory considerations, the potential risks of the market competition landscape are also worthy of attention: First, the cost of innovative drugs is getting higher and higher

  On September 22, the first release of Jikai Gene Science and Technology Innovation Board will be rejected.

  As regulatory requirements become more and more stringent, innovations in the unreal sense will gradually go unnoticed

  This is a common topic worthy of consideration by the industry.

  According to the report, Haihe Pharmaceutical's listing on the Science and Technology Innovation Board was terminated largely because of product R&D capabilities, registration paths, and whether there is a significant dependence on third-party technology is a question repeatedly raised by the Science and Technology Innovation Board Listing Committee

Is there a path to follow to establish an innovative "moat"?

  Back to the basic point of the development of biomedicine, the capital market itself is optimistic

  This demand also comes from the constant change of the environment

  Then, for small and medium-sized biotechnology companies, companies must be more cautious when setting profit targets and managing expectations from the market
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Especially when the market is flooded with funds, investors will pay more attention to the quality of scientific research
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  For example, Biocytometer has accumulated a loss of nearly 900 million yuan in more than two years.
It is expected that the loss will continue to expand in 2021.
In addition to fierce competition in the industry, the industry is very concerned about Biocytometer’s listing in Hong Kong.

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Some people regard Biocytogen as a rebirth of the Chinese version in business
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  In fact, Regeneron’s development model may inspire many domestic companies, although it has also experienced years of dormancy and precipitation until the Trap technology platform and VelocImmune technology came out
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From this perspective, industrial policy nourishes true innovators
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It can be judged that the future blockbuster scarce technology, and the technology with the right direction, and the innovation with high barriers will be really popular
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Observing the history and commonalities of the rise of giants in the past can provide clues to the certainty of the current development of this type of biological company.
Breakthrough innovation is the real moat
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