First day of the IPO | Huayu Bio-B (02396) first listed in early trading and opened 11.52% lower. The company is a leading PDGF pharmaceutical biopharmaceutical company in China

The Zhitong Finance App learned that Huayu Bio-B (02396) was first listed. According to the announcement, each share was priced at HK$38.2, and a total of 17.648,800 shares were issued, 200 shares per lot, with a net proceeds of about HK$600 million. As of press release, it decreased by 11.52% to HK$33.8, with a turnover of HK$103 million.

According to public information, Huayu Biotech was founded in 2012 and is a biopharmaceutical company headquartered in China. It is committed to developing therapeutics, focusing on developing protein drugs for indications with medical needs and market opportunities. The company's main focus is to discover, develop, and commercialize wound healing therapies, currently PDGF drugs. As of the last practical date, the company's pipeline contains ten candidate products, seven of which are PDGF drug candidates, including two core products, Pro-101-1 for treating burns and Pro-101-2 for treating sugar feet, which are rhPDGF-bB drugs.

As of the last practical date, China has three PDGF drug pipelines, according to the Frost & Sullivan report. As of the same date, there were no approved PDGF drugs in China. All PDGF pipelines are based on PDGF-BB isomers. Two of these PDGF-BB pipelines belong to Huayu Biotech. Patients who entered the phase II clinical trial for sugar foot treatment in February 2022 and the last case of phase IIb clinical trials to treat deep and minor burns were enrolled in April 2025.