The Beijing News (Reporter Wang Kara) On February 23rd, 12, Baixin 'an, a medical device company focusing on innovative interventional cardiovascular devices, landed on the Hong Kong Stock Exchange with an issue price of 2 1.25 Hong Kong dollars per share. Open lower by HK$ 65,438+08.88 per share. By the close of the afternoon, the share price was 19.88 Hong Kong dollars/share, down 6.45%, with a total market value of 4.849 billion yuan. The first day of listing did not escape the "breaking spell".
Propranolol focuses on two treatment methods: completely degradable stent (BRS) and renal nerve block (RDN). The former is to solve the unmet medical needs of domestic patients in the treatment of coronary artery or peripheral artery diseases, and the latter is to solve the unmet medical needs of patients in the treatment of uncontrolled hypertension and intractable hypertension.
In recent years, China's involvement in the medical device market has grown rapidly, and it is expected to maintain the growth trend. However, the market of biodegradable stents and renal nerve block in China has not fully penetrated, which has great growth potential. As far as the biodegradable stent market is concerned, although the number of patients with coronary heart disease in China is huge and growing rapidly, and interventional therapy is superior to traditional treatment, the penetration rate of percutaneous coronary intervention in China is still very low.
According to Jost Sullivan's data, in 20 19 years, China only performed about 729 times of percutaneous coronary intervention per 1 10,000 people, while in the same year, the United States, Japan and Europe performed 295 1, 2276 and 2222 times respectively. In addition, the therapeutic instruments used in percutaneous coronary intervention in China are mainly early products, and there are only two commercial fully degradable stent products, both of which are the first generation products. More advanced products will enjoy a huge market. In the market of renal nerve block therapy, there is no commercialized renal nerve block product in China at present.
Bai Xin 'an is one of the only four companies in China with the second-generation biodegradable stent products in the clinical trial stage, and its core product Bioheart is a biodegradable stent system independently developed for percutaneous coronary intervention for coronary artery disease. Bai Xin 'an predicts that Bioheart will be approved for listing in the third quarter of 2023, becoming the world's first second-generation biodegradable stent system approved by the regulatory authorities based on the results of multicenter randomized controlled clinical trials.
In addition to the above two products under research, Bai Xin 'an also has five balloon catheter products under research. Because there are no listed products, Baixinan is still at a loss. In the first half of 20 19, 2020 and 202/kloc-0, the company's net losses were RMB 24 million, RMB 340 million and RMB 228 million respectively. R&D expenditure is 22 million yuan, 246 million yuan and 65.438+20 million yuan respectively.