Porton Congratulates Partner GenFleet Therapeutics on Its HKEX Main Board Debut

GenFleet is a commercial-stage biotechnology company focusing on cutting-edge therapies in oncology and immunology. The gross proceeds prior to the exercise of the over-allotment option reached USD 233 million, and will increase to USD 268 million after the exercise of the over-allotment option, making it the largest IPO fundraising under Chapter 18 rule on the Hong Kong Stock Exchange (HKEX) since 2022. Nine cornerstone investors were introduced into this IPO, including RTW Funds, OrbiMed, TruMed, UBS Asset Management (Singapore) Ltd., Vivo Funds, CUAM Entities, Fullgoal Entities, Tibet Longrising, Lake Bleu Entities, with cornerstone subscriptions totaling USD 100 million. CITIC Securities acted as the sole sponsor for this IPO.

GenFleet was the first biotech to enter the HKEX under Chapter 18A with a commercially launched product (fulzerasib) as well as established licensing revenue at the stage of IPO. Through proprietary R&D and collaborations with partners in China and abroad, the company has set up a highly differentiated pipeline of RAS-targeted matrix and diversified innovative treatments - with multiple assets leading their categories in clinical progress, in China or globally. In addition, the company has pioneered a series of first-in-class combination therapies based on dual-target synergistic mechanisms. By integrating clinical needs and insights, GenFleet is dedicated to expanding its portfolio into major therapeutic areas including pancreatic cancer, first-line NSCLC, and cachexia.

As a long-term CDMO partner in GenFleet's journey of innovative drug development, Porton leveraged its extensive experience in serving global blockbuster drug projects. Porton played a crucial role in supporting the entire lifecycle of Fuzerelase's API—from toxicology batch studies, IND studies, clinical API supply, to NDA-related research, process validation, two-in-one dynamic inspections, and corresponding registration support, facilitating the project’s advancement at every stage. In record time, Porton facilitated GenFleet’s rapid advancement from IND approval to NDA acceptance, culminating in Fuzerelase’s successful market authorization. This collaboration underscores Porton’s client-centric service philosophy and its efficient, professional end-to-end CMC capabilities.

Porton extends its heartfelt congratulations to GenFleet Therapeutics on its successful listing on the HKEX Main Board. We look forward to GenFleet's continued achievements in the innovative drug sector, fueled by the opportunities provided by the capital market. Looking ahead, Porton remains steadfast in its commitment to empowering global innovators through high-quality CDMO services，enabling the public's early access to good medicines.

About GenFleet Therapeutics

With a focus on cutting-edge therapies, GenFleet Therapeutics (2595.HK) is dedicated to serving significant unmet medical needs globally in oncology and immunology. Leveraging its deep understanding of disease biology and translational medicine, GenFleet has established a proprietary and fully integrated R&D system that yields a robust pipeline of multiple cutting-edge products with novel mechanisms and global IP.

Since its inception in 2017, GenFleet has built up industry-leading capabilities and expertise in developing novel drug candidates spanning small molecules and biologics. Its pipeline comprises numerous programs that have advanced to later-stage or pivotal clinical trials across China, the United States and Europe.

The company has set up a highly differentiated RAS-targeted matrix including selective and pan-RAS inhibitors of diverse molecular types, with most assets leading their categories in clinical progress in China or globally. In addition, the company has pioneered a series of first-in-class combination therapies based on dual-target synergistic mechanisms. By integrating clinical needs and insights, GenFleet is dedicated to expanding its portfolio into major therapeutic areas including pancreatic cancer, NSCLC, and cachexia. Furthermore, it's strengthening its commercial collaborative network through strategic out-licensing agreements or clinical cooperations with prestigious listed companies across the world.

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