Recently, Fukang Pharmaceutical officially submitted an application for listing on the main board of the Hong Kong Stock Exchange, marking a key step towards the capital market.

Founded in 2015, Fukang Pharmaceuticals is a clinical-stage, global, and China-based company dedicated to developing innovative medicines for oncology, viral diseases, and aging-related diseases. Fukang's core team primarily hails from leading domestic and international pharmaceutical companies such as Novartis and Huahai Pharmaceuticals, and the company collaborates with renowned research institutes both domestically and internationally, including the Shanghai Institute of Materia Medica, Chinese Academy of Sciences.

According to its prospectus, Fukang Pharmaceutical has established a diversified product portfolio consisting of one commercialized product, two core products, two key products, and 12 other drug candidates under development. Of these 16 drug candidates, five are in Phase I/II clinical development, seven are in preclinical development, and four are generic drug candidates. Its pipeline focuses primarily on oncology, antiviral, and anti-aging. While its core products are centered in the oncology field, its focus is on broad-spectrum anti-cancer drugs.

Fukang Pharmaceutical's oncology product pipeline covers solid tumors and hematologic malignancies, such as breast cancer, lung cancer, bile duct cancer, prostate cancer, pancreatic cancer, and gastric cancer, for which innovative treatment options are urgently needed both domestically and internationally. These include the second-generation PARP inhibitor CVL218, which has demonstrated "best-in-class" potential, and the world-leading, highly selective PI3Kβ/δ dual inhibitor CVL237, as well as first-in-class, innovative bispecific antibodies targeting solid tumors. Fukang Pharmaceutical's viral product pipeline includes drug development for a variety of infectious diseases, including COVID-19, respiratory syncytial virus, monkeypox virus, and yellow fever virus.

It is worth mentioning that Fukang Pharmaceutical successfully commercialized its first product, Hannaijia, in June 2024 and achieved nationwide coverage within three months. Its sales in 2024 were 17.8 million yuan, and its sales in the first half of 2025 were 34.7 million yuan.

Fukang Pharmaceuticals disclosed in its commercialization strategy that it has established and intends to continue to establish partnerships with leading international and domestic pharmaceutical companies to expand its geographic reach. Furthermore, the company is adopting a "one drug, multiple indications" approach to R&D, essentially consolidating the functionality of its entire pipeline into a single product by designing a single drug to cover multiple indications. For example, the company is exploring new indications for CVL009, based on Hanaijia.
According to public information, Fukang Pharmaceutical's valuation reached 3.188 billion yuan after its last round of financing. The company will use the funds raised from its Hong Kong IPO to further enhance its R&D capabilities and market expansion, accelerating the development and commercialization of its innovative drugs.

Conclusion: Fukang Pharmaceutical's submission of an IPO application on the Hong Kong Stock Exchange is a key step in its development process. If it is successfully listed, it will help the company obtain more financial support, further promote its development in the biopharmaceutical field, and bring more innovative treatment options to patients. However, the company still faces many challenges and risks in its future development path and needs to continue to work hard to achieve long-term stable profitability and development.

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