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02137 騰盛博藥 - B
Brii Biosciences - B
Listing Date2021/07/13
Listing Price22.250
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Brii Biosciences is a biotechnology company based in China and the United States committed to advancing therapies for significant infectious diseases, such as hepatitis B virus (HBV), human immunodeficiency virus (HIV), multi-drug resistant (MDR) or extensive drug resistant (XDR) gram-negative infections, and other illnesses, such as the central nervous system (CNS) diseases, which have significant public health burdens in China and worldwide.

The drug candidates in existing pipeline are primarily focused on infectious diseases and also CNS diseases. Its infectious disease programs Core Product include (i) HBV functional cure treatment that uses an HBV-specific B cell and T cell therapeutic vaccine (BRII-179) and an HBV-targeting siRNA (BRII-835).

For BRII-179, the Group has completed a Phase 1b/2a clinical study of BRII-179 in China, Hong Kong, New Zealand, Australia, Thailand and South Korea with the final clinical study report issued on May 24, 2021. For BRII-835, it is conducting a Phase 2 clinical study in China.

Its R&D employee headcount totaled 62 with 36 employees located in China and 26 employees located in the United States.

MarketHong Kong (Main Board)
Business NatureHealth Care
Major Business AreaChina
Board Lot500
No. of Offer Shares112m shares
No. of International Offer Shares100m shares
No. of HK Offer Shares11.16m shares
Offer Price$21.00 - $22.25
Registrar & Transfer OfficeTricor Investor Services
Stock Code2137
Sponsor(s)Morgan Stanley Asia Limited; UBS Securities Hong Kong Limited
Underwriter(s)Morgan Stanley Asia Limited; Morgan Stanley & Co. International plc; UBS AG Hong Kong Branch; China International Capital Corporation Hong Kong Securities Limited; SVB Leerink LLC
Application PeriodJun 30 (Wed) - Noon, Jul 6 (Tue)
Price Determination DateOn or Before 5pm, Jul 6 (Tue)
Result Announcement DateOn or Before Jul 12 (Mon)
Dispatch of Shares and Refund ChequesOn or Before Jul 12 (Mon)
Dealings in Shares commence onJul 13, 2021. (Tue)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
ExecutiveZhi HONG, Yongqing LUO
Non-ExecutiveRobert Taylor NELSEN, Axel BOUCHON
Independent Non-ExecutiveMartin J MURPHY JR, Grace Hui TANG, Yiu Wa Alec TSUI, Gregg Huber ALTON
Xiaomeng Tong15.86%
6 Dimensions Capital14.98%
ARCH Venture Partners14.98%
Feng Yu8.45%
Neil Nanpeng Shen8.29%
(Year ended Dec 31)
Pre-Taxed Profit(1,283,510)(521,028)--
Attributable Profit for the period(1,189,600)(521,028)--
Offer Price$21.00 - $22.25
Capitalization$14,830m - $15,713m
Unaudited pro forma adj NAV / share$0.38 - $0.81
Assuming the offer price being at the mid-point of $21.63, the net proceeds raised would be HK$2,267.4m, of which:
* $1,247.1m (55.0%) to allocate to HBV functional cure programs;
* $340.1m (15.0%) to allocate to HIV programs;
* $340.1m (15.0%) to allocate to MDR/XDR gram-negative infections programs;
* $113.4m (5.0%) to clinical trials for BRII-296; and
* the balance of $226.7m (10.0%) as additional working capital.
Code Name Nominal Change %Change
15-min delayed, last updated: 07/12/2021 15:59
Related Document
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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