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SciClone Pharmaceuticals Officially Listed on the Main Board of the Hong Kong Stock Exchange

SciClone will continue to screen and assess investment opportunities in oncology

SciClone Pharmaceuticals (Holdings) Limited (“SciClone Pharmaceuticals” or “SciClone”) was officially listed today on the Main Board of The Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange” or “HKEx”) under stock code: 6600.

In the initial offering, the 11,599,000 shares offered for subscription in the Hong Kong Public Offering was oversubscribed by 1,068.05 times. The Offer Price was HK$18.80 per Offer Share, and the Global Offering has raised a total amount of HK$2,039.5 million in net proceeds (after deducting underwriting fees and commissions paid and payable in connection with the global offering and estimated expenses and assuming the Over-allotment Option is not exercised).

According to the Company, the largest portion of the proceeds will be used for investment in potential acquisition of drug targets in China or other global markets. SciClone will continue to screen and severe infection, focusing on synergy with its existing pipeline and leveraging the Company’s established commercial capabilities. Meanwhile, another portion of the proceeds will be used to fund the development and commercialization of the Company’s clinical-stage assets.

SciClone is a global biopharmaceutical company with an integrated platform for product development and commercialization. The Company has been building its presence and cultivating its market in China for over 20 years. Targeting oncology and severe infection therapeutic areas, SciClone aspires to become a leading biopharmaceutical company in China, by working hard to win trust from its patients, respect from its customers, pride from its employees, and sustainable growth for the Company.

SciClone is committed to its mission of improving health for patients. The Company’s core proprietary asset, Zadaxin® (thymalfasin), played an important role in the prevention and treatment of SARS infections in 2003 and COVID-19 infections in 2020. In addition, Zadaxin® is also widely used for the treatment of hepatitis B and sepsis, and has been adopted for combination cancer therapies. At present, the Company has eight early- or late-stage investigational assets, among which, five are in pivotal or later clinical trials. The small molecule drug conjugate (SMDC) candidate PEN-866, and the next-generation small molecule immunotherapeutic drug candidate RRx-001 (anti-CD47-SIRPα), either as single agent or in combinations, have enormous therapeutic potential in cancer treatments. Moreover, both drug candidates have already achieved encouraging results from clinical trials, and are among the frontrunners in their respective fields globally.

With respect to licensing and partnering, SciClone has obtained from The Medicines Company the permanent rights to commercialize Angiomax® (bivalirudin) in Mainland China. Angiomax® is indicated for use as an anticoagulant in patients undergoing percutaneous coronary intervention (including patients with heparin-induced thrombocytopenia and thrombosis syndrome). SciClone plans to begin commercializing Angiomax® in Q1 2021. In 2020, SciClone entered into a license transfer agreement with Novartis for Zometa® and has taken over the commercialization of the asset since January 2021. Zometa® is indicated for the treatment of bone metastases from solid tumors and malignant hypercalcemia. According to Frost & Sullivan, the bone metastasis drug market in China reached RMB1.3 billion in 2019, and is expected to grow to an estimated RMB9.5 billion in 2030. Both drugs are expected to deliver substantial growth unleashed by SciClone’s innovative business model and established distribution channels in the hospital and retail markets.

“Today marks a major milestone for SciClone. As the largest shareholder of the Company, GL Capital Group aims to build SciClone into a leading specialty biopharmaceutical company focusing on the fields of oncology and severe infection in China,” noted Mr. Li Zhenfu, Chairman of SciClone Pharmaceuticals, and founder of GL Capital Group. “Since 2017, SciClone has made significant headways in strengthening the competitiveness of its commercialized products and building a pipeline of in-licensed innovative therapies, an effort that will be further accelerated by the IPO. To establish a world-class corporate governance, SciClone has appointed accomplished industry veterans, including the former global chairman and CEO of Novartis, to its Board. In the long run, SciClone will stay focused on its long-term vision and write more exciting chapters into its growth story.” Ever since its inception in 2010, GL Capital Group has focused its investments on the pharmaceutical and healthcare sector, and has become the second largest shareholder of SciClone after its initial investment in 2012. In 2017, GL Capital Group led the effort to privatize SciClone from Nasdaq. After becoming SciClone’s largest shareholder, GL Capital Group dedicated tremendous resources and value-adding services to support SciClone in its organizational restructuring and optimization, refinement of its strategic focuses, in-licensing, and the design of incentive plans, etc. These supports have resulted in the drastic improvement in the Company’s performance and an ever more robust pipeline.

“We are grateful to the investor communities for their enthusiastic support and interest. Since its establishment, SciClone has steadfastly pursued its commitment to patients, and upheld a culture of ‘stringent compliance and result-oriented operation’ to deliver quality novel therapeutic products compliant with the highest international standards, said Mr. Zhao Hong, Executive Director, President and Chief Executive Officer of SciClone. “SciClone has over the years built robust commercial capabilities, high-standard manufacturing and stringent quality control, and a balanced portfolio consisting of high-potential assets. We are confident that our robust commercial and R&D capabilities will enable us to effectively address the high unmet medical needs in oncology and severe infection. In the future, we will further strengthen SciClone’s unique market leadership position through continuous innovation in our business model. We aim to provide our employees with the friendly working environment expected of a global corporation, platforms to realize their potentials, and competitive incentive and compensation plans. We are committed to delivering great return to our investors and creating social value for our communities. Above all, we will devote ourselves to the health and happiness of people in China and around the world.”

About SciClone Pharmaceuticals (Holdings) Limited

SciClone Pharmaceuticals (Holdings) Limited is a biopharmaceutical company with an integrated platform for product development and commercialization. The Company strategically focuses on some of the severe and fast-growing therapeutic areas with significant unmet medical needs in China, primarily including oncology and severe infection. Leveraging the Company’s integrated platform, SciClone strives to develop and commercialize a balanced portfolio of high-quality marketed products and pipeline drugs in the Company’s focused therapeutic areas.

This article was shared to Prittle Prattle News as a Press Release.

By PR Newswire

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