Beijing Luzhu Biotech Listing on HKEX On May 8；Patrons Serves as the Bookrunner

On May 8, Patrons served as the bookrunner and completed the listing project of Beijing Luzhu Biotechnology Co., Ltd. (02480.HK) on the Hong Kong Stock Exchange, becoming the first B-shares of 2023. Luzhu Biotech shares were issued at an issue price of HK$32.80 per H share, with a net fundraising of HKD 241.6 million. The public offering was oversubscribed by 2.25 times, and the international offering participated by institutional investors was oversubscribed by 0.33 times.

Established in 2001, Luzhu Biotech is a biotechnology company dedicated to developing innovative human vaccines and therapeutic biological products to prevent and control infectious diseases, as well as to treat cancer and autoimmune diseases. Currently, Luzhu Biotech has three products under clinical trials and four products under pre-clinical research.

As the first IPO of 18A in the Hong Kong Stock Exchange this year, the core product of Luzhu Biotech -  herpes zoster vaccine - is the first herpes zoster vaccine with a tetramer molecular structure in the world that was independently developed by the company. The market size of the Chinese herpes zoster vaccine is expected to grow from RMB 10.38 billion in 2021 to RMB 10.8 billion in 2025 with a compound annual growth rate of 103.8%, and further increase to RMB 28.1 billion in 2030 at a compound annual growth rate of 21.1%. This indicates that the company and the market have certain development potential.