LONGBIO-B (01779) commenced trading today, following its initial public offering where shares were priced at HK$96.06 each.

The company issued a total of 14.1932 million shares in lots of 50, raising net proceeds of approximately HK$1.255 billion.

As of the latest update, the stock is trading at HK$144.3, representing a significant gain of 50.22% from the offer price, with a turnover of HK$299 million.

Company Profile and Pipeline

LONGBIO-B is a clinical-stage biopharmaceutical firm primarily focused on the independent discovery and development of biologic drugs targeting allergic and autoimmune diseases.

The company has established a comprehensive pipeline of biologic candidates aimed at treating conditions in otorhinolaryngology, dermatology, respiratory, hematology, nephrology, and other autoimmune fields.

Core Product Development

The company's lead product, LP-003, is an anti-IgE antibody that has already entered eight clinical trials in China.

Clinical data indicates LP-003 demonstrates significantly superior efficacy compared to omalizumab in treating chronic spontaneous urticaria (CSU).

A Phase III clinical trial for seasonal allergic rhinitis is currently underway for this product.

Key Pipeline Candidate

Another major asset, LP-005, is the first product developed from the company's bifunctional antibody platform, targeting complement proteins C5 and C3b.

LP-005 is primarily intended for treating paroxysmal nocturnal hemoglobinuria (PNH) and other complement-mediated kidney diseases.